Tuesday, October 29, 2013

Croatia Airlines begins search for part owner

Another EX-YU airline begins privatisation process

The Croatian Centre for Restructuring and Sales (CERP) yesterday invited investors to express interest in buying a 49% stake in Croatia Airlines, marking the start of the carrier’s privatisation process. Potential investors have until November 27 to express their interest. The tender will be followed by a second one where concrete takeover offers are to be made. The Croatian government plans to retain its 46.76% share in the airline, which coupled with shares owned by Zagreb Airport and the State Agency for Deposit Insurance and Bank Rehabilitation amounts to 50.25%. The decision to sell a minority share package allows companies from outside the European Union to take part in the sales process.

The government says the privatisation procedure is likely to last between eight and ten months. The exact value of the company will be determined during the second tender when potential strategic partners will make their offers. The government has previously estimated the company to be worth 45.9 million euros. It says there will be three criteria they will focus on when negotiating the carrier’s sale. They include turning Croatia Airlines into a regional leader, fleet renewal and the offered price.

The Croatian Minister for Sea Transport and Infrastructure, Siniša Hajdaš Dončić, said, “As many as four international companies have shown interest in purchasing a stake, including Garuda Indonesia”. Other airlines also believed to be amongst the four are Hainan Airlines and China Southern Airlines. The government believes it is unlikely a carrier from inside the European Union will be willing to purchase Croatia Airlines at such time of economic uncertainty on the continet. On the other hand, the government also has a “Plan B” should the privatisation process fail and includes selling the company’s assets bit by bit. “In its present state Croatia Airlines can’t function past 2015”, Mr. Hajdaš Dončić concluded.

47 comments:

  1. My bet is it will be United, they already have codeshare so it is the next natural step.

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    1. LOL. Like they don't have eniugh issues in the States.

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  2. Sorry for this OT. Vueling starts BCN-BEG in summer 14 as follows:

    eff 20JUN14 Barcelona – Belgrade 3 weekly (until 15SEP14)
    VY1286 BCN1735 – 2005BEG 320 3
    VY1286 BCN2045 – 2315BEG 320 1
    VY1286 BCN2150 – 0020+1BEG 320 5

    VY1287 BEG0100 – 0335BCN 320 6
    VY1287 BEG2045 – 2320BCN 320 3
    VY1287 BEG2355 – 0230+1BCN 320 1

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    1. What wonderful times. I am sure they will be popular with the travelling public. lol

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    2. They have added Belgrade on their website but the prices are not on yet. Nevertheless, great news. Belgrade will be super busy in the night next summer!

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    3. Air Serbia didn't give a damn about that market apparently, so they allowed the crappy Vueling to start it first. What a miss.

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    4. I think they did not have the aircraft for the route. I doubt BCN is a high yielding market from Belgrade. I am sure it will eventually fly there but its not a top priority at this point.

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    5. Would Madrid be another option or LIS in cooperation with TAP?

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    6. If I remember correctly TAP has announced its intention to launch Belgrade. I think they said they are planning the route for summer 2014.

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    7. Wonderful! Im glad to see so any new routes from Bekgrade! TAP is coming from the summer.

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    8. Barcelona is now avaivable for booking on Vueling website :)

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  3. Sretno, mada mi se čini da od toga neće biti ništa...

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  4. China Southern could be the one.. with there 442 planes and 193 destinations and some new ground in Europe with OU. If they take it serious and have some good plans, they could become good and strong.

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  5. OT: Any info on what's with the leased Bulgaria Air planes?Are they still flying or have been returned? Also, how many 737 frames are flying for JU at the moment? I counted 7 so far.

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    1. Yes, they are still here. I guess they will stay for quite some times, especially now when the A319s can't be used to the full extent.

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  6. Wizz is comming to INI..

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    1. Which routes will they introduce?

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    2. Pure speculation and lie! With BEG, SKP and SOF the door for INI is closed!

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    3. Not necessarily. It's not like INI itself can't sustain a few weekly flights to a few cities around Europe. Wizz Air won't care about the other airports if they get cash to fly out of Nis.

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    4. Exactly. If low costers are making money they wont care. It think that Wizz will surely come to INI.

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    5. Interesting. I'd like to know where you got this speculation from.

      I believe SJJ, BNX, OHD, TGD and TIV are still ahead in the picking order.

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  7. OT Etihad posted a video from AirSerbia lounch on their LiveStream page if anybody is interested

    http://new.livestream.com/etihad/airserbiatakeoff

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  8. Does anyone know how Tuzla flights are performing for Wizz Air? I know they had a good summer season but what's happening now?

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    1. Still going strong.

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    2. Great demand since Bosnia is still heavily monoplized by Star Alliance with their high fares.

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    3. Strong, but with the Canton financial support: the carrier does not pay the VAT. It is compensated by the Canton. Otherwise?

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  9. Ovdje ljudi pišu o svemu osim o Croatiji Airlines, dajte se vratite na temu, a ne da gotovo svaki post bude OT! Koristim priliku da Air Srbiji izrazim najbolje želje povodom pokretanja poslovanja! Nadam se da će i OU vidjeti bolje dane! Puno pozdrava svima koji prate ovaj blog, posebno Purgeru koji uvijek ima zanimljive i konstruktivne komentare!

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    1. Steta je sto nema vise Hrvata koji bi komentarisali kada su teme vezane za HR. Mnogo je zanimljivije kada je interaktivna diskusija ispod teksta.

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    2. Realno, bez veze je ostavljati komentare o YU na nepovezanim vestima samo zato što su "svežije", možda bi administrator mogao apelovati na posetioce da komentare ostavljaju na najbližoj povezanoj vesti.

      Ipak, ne znam šta bih rekao na ovu vest o OU jer se u njoj nalaze samo informacije koje odavno znamo i odavno smo ih prokomentarisali. Neka barem uspostave neke prve kontakte sa potencijalnim kupcem, onda ćemo imati nešto konkretno za novu rundu komentara. Ovako se nema šta komentarisati pa se lako ode u OT.

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    3. Zao mi je, i slazem se da u velikom broju slucajeva kada imamo neku vest o hrvatskom aviosaobracaju imamo dosta OT-a. :/ To je usled toga sto je najveci broj posetilaca iz Srbije.

      Ali za ovu konkretnu vest nemamo sta reci, vec je ista vest bila objavljena nekoliko puta, dok sa druge strane imamo dolazak Vuelinga u Beograd i povezanost Beograda sa Barselonom.

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  10. PS Ex-YU: ima li šanse da ovaj novi baner bude u boji?

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    1. Is there any chance this banner gets changed completely? It's horrendous and horribly slow at loading, besides being depressive. My 2 cents.

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    2. Hmm... I don't know, I don't mind it really. I think the author wanted to portray autumn which can be gloomy and grey. :/
      I hated the previous one though.

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    3. I find the new banner joyful and bright because of the vintage and collage like effect, I don't know why it evokes those emotions in you. Something doesn't necessarily have to be in color to make you happy. This is an aviation blog, so commenting on graphic design is really unnecessary, in a negative sense anyway.

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  11. My tip is: Hainan Airlines will get the 49% of CA shares.
    The attemps to improve its network in Europe failed but the other chinese airlines have a better and spreaded presence in the western countries.
    Let's forget Garuda!

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  12. Does anyone know how much OU lost/is losing due to the Zurich incident?

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  13. OT: Moscovia opens Sarajevo - Moscow DME route beginning on Friday, 1 November.

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    1. Finally Bosnians have a direct route to Russia!
      Long overdue.

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  14. It's not loosing much, 9A-CTF was planned to be "kicked" out of fleet 'cause of EU rules, so CTF will fly until the end of the year when 9A-CQC will be back in Croatia.

    Biggest problem with CQC is that Croatia Airlines wants to fly it to Zagreb and fix it there but they can only do that with flyover with gear down, and icing conditions are preventing that...

    P.s. Croatia Airlines will be sold and is expecting good future, more details in following weeks :)

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    1. Is it your assumption or you are having some insider informations :-)?

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  15. I'm following this blog from the very beginning and I'm an aircraft mechanic.

    Sometimes I feel I can contribute to this blog with my comments, and sometimes I don't want to be dragged in "balkan battle" between idiots.

    All of my infomation is from first hand.

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  16. I very much agree. "Balkans Battle" can be boring.

    But, if you want us to be able to refer to your comments...some sort of user name would be nice...

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  17. Thank you exyu aviation for posting at least one non-Air serbia related topic this year.

    It's good to know you are still aware that there are other Countries other than Serbia in this region..

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    1. You are most welcome. Might I refer you to the 274 other non Air Serbia related articles published this year.

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  18. BA888, you're right. I'll make some sort of user name!

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  19. This should be ok :)

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