newstodate.aero
Oct 29, 2013 (newstodate): The tender for sale of a minority stake in Croatia Airlines has now been opened.
Potential bidders will now have till November 27, 2013, to express their interest in participating in the final round, and the entire process is expected to last for some eight to nine months, ending by mid-summer 2014.
The state will sell 49.75 percent of the stake in the carrier, allowing for non-EU parties to join the tender without the airline losing its EU designation.
Left on its own, the carrier would have difficulties in surviving in the highly competitive aviation environment, needing a firm investment base to renew and expand its aircraft fleet.
The carrier has seen both passenger volumes and revenues declining in 2013, and as the state is now member of the EU since July 1 this year, it is barred from saving the carrier through renewed capital injections.
Croatia Airlines operates a fleet comprising seven airbus A320 Family and six Bombardier Dash8 Q400 aircraft.
Potential bidders will now have till November 27, 2013, to express their interest in participating in the final round, and the entire process is expected to last for some eight to nine months, ending by mid-summer 2014.
The state will sell 49.75 percent of the stake in the carrier, allowing for non-EU parties to join the tender without the airline losing its EU designation.
Left on its own, the carrier would have difficulties in surviving in the highly competitive aviation environment, needing a firm investment base to renew and expand its aircraft fleet.
The carrier has seen both passenger volumes and revenues declining in 2013, and as the state is now member of the EU since July 1 this year, it is barred from saving the carrier through renewed capital injections.
Croatia Airlines operates a fleet comprising seven airbus A320 Family and six Bombardier Dash8 Q400 aircraft.