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Adria Says It will not Survive Winter Without EUR 9M Loan

Ljubljana, 16 October (STA) - The chairman of Adria Airways Klemen Boštjančič said on Tuesday that the Slovenian flag carrier would not make it through the winter without an outstanding EUR 9m loan from the NLB bank and Unicredit banka. Meanwhile, Adria plans to provide 169 regular weekly flights to 15 destinations from Ljubljana in the winter.

While presenting Adria's routes for the winter season, Boštjančič said Adria had already expected the loan in September. He added that a step forward had been made, as NLB explained that the company had met all criteria for successful restructuring set as a condition for obtaining the loan.

Boštjančič said that Adria was operating better than expected, but that talks with companies in indirect or direct state-ownership would be needed in the future, since the prices these companies were charging to Adria for their services were among the highest in Europe.

He explained that the loan was part of last year's capital increase talks and was transferred back to the accounts of NLB and Unicredit for a year after they established that Adria would have a positive balance sheet until September this year.

Meanwhile, Adria plans to provide 169 regular weekly flights to 15 destinations from Ljubljana and three more from Prishtina, Kosovo in the winter.

Four flights a day are scheduled to Frankfurt, three to Zürich, Munich and Vienna, and one to Moscow, Istanbul, Podgorica, and Tirana.

Six flights a week are planned to Sarajevo, five to Belgrade, four to Amsterdam. Also scheduled are 13 flights a week to Brussels and flights to Skopje. Adria connects Prishtina to Fankfurt, Verona, and Munich.

The route to London will be abolished in the winter, while a charter flight once a week is planned to London in the summer.

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