Saturday, April 11, 2015

Adria Tehnika privatisation enters final phase

Slovenia continues sell-off in aviation sector

The privatisation process of Adria Airways’ maintenance division, Adria Airways Tehnika, is entering its final phase with the company expected to be sold by the end of June. In 2010, Adria sold its 100% stake in Adria Tehnika to the operator of Ljubljana Jože Pučnik Airport (46.7%) and the state-owned financial holding company PDP (52.3%). The tender for the submission of bids for a 100% stake in Tehnika expired in late March. Zmago Skobir, the Managing Director of Ljubljana Airport, says, “We will open the bids, evaluate them and decide how to proceed. If we are happy with any offers, we will make a shortlist and start negotiations. Sales procedures should be wrapped up by the end of June if there are any satisfactory offers”.

The names of the companies vying for Tehnika have not been disclosed. Several months ago, unofficial reports suggested Express Airways and Avia Solutions were among the bidders, but additional firms are said to have come forward thereafter. Despite hopes for a bid from Bombardier, the Canadian plane manufacturer did not put in an offer. Adria Tehnika is yet to release last year’s results. In 2013 it posted sales of 20.8 million euros and a net profit of 900.000 euros, making it one of the most profitable maintenance centres in the former Yugoslavia. The Slovenian government is seeking to finalise Tehnika’s sales prior to the privatisation of Adria Airways. The state is looking to sell its 91.6% stake in the national carrier by the end of the year and thus complete the sell-off in Slovenia’s aviation sector which began last year with the privatisation of airport operator Aerodrom Ljubljana to Germany’s Fraport.

Independent maintenance companies in ex-Yugoslavia
2013 financial performance

CompanyNet profit €
Adria Airways Tehnika▲ 900.000
Jat Tehnika▲ 230.000

Adria Tehnika is not only the base maintenance provider for the Slovenian national carrier but also for SAS Scandinavian Airlines, Wizz Air, Air Méditerranée, Afriqiyah Airways, Germanwings, Air India, Austrian and several others. The company is the maintenance facility for the Bombardier CRJ100/200/700/900 aircraft and works in partnership with Air France Industries on maintenance and service checks on the A320 family of aircraft. It is Europe’s leading third party maintenance provider for CRJ100/200/700/900 jets. Tehnika’s facilities consist of the main hangar, stretching over 1.700 square meters, two new hangars, both 2.300 square metres, and workshops covering an area of 700 square metres. Under the original takeover deal with Ljubljana Airport, Tehnika’s facilities remained in ownership of Adria Airways, however, they too were sold to the airport in 2013.

25 comments:

  1. Honestly Adria Tehnika is worth more than Adria.

    ReplyDelete
    Replies
    1. Its AA's cash cow, no idea why they're selling it.

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    2. Kakve veze ima American Airlines sa ovom pricom.
      INN-NS

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    3. Apsolutno nikakve kao ni ti s pameti, smaras vise s tim kodovima

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    4. Nije problem u gresci nego i ja da ispravljam malo kao vi mene kad napravimgresku u pisanju.
      INN-NS

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    5. Tehnicki to nije bila greska.

      Delete
  2. Wgy didn't they sell Adria and Tehnika together? Would have made more sense.

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    Replies
    1. They did the same in Serbia. Separated Jat from Jat Tehnika because they thought it would be easier to sell.

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  3. Too bad about Bombardier. That would have been fantastic

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  4. Wow surprised JAT Tehnika made a profit without servicing Air Serbia aircraft!

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    Replies
    1. That result is for 2013 when Jat still existed. Doubt their 2014 result is anywhere near as good.

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    2. First of all Jat Tehnika still does maintenance for Air Serbia. Second they made a loss in 2012 during Jat because Jat didn't pay for anything.

      Delete
  5. OT

    Does anyone know why both Adria and Croatia Airlines are not part of Lufthansa's Partner Plus Benefit Programme?

    ReplyDelete
    Replies
    1. Because they are too small

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    2. Croatia isn't part of Lufthansa Group, only members of Lufthansa group can aces partner plus benefit program. So in retrospect this was a bit of as silly question or you just trolling nemanjee.

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    3. How exactly am I trolling? Here is the list of airlines that are part of it:

      1. Lufthansa
      2. ANA
      3. Austrian Airlines
      4. SN Brussels
      5. Eurowings
      6. Germanwings
      7. Lot
      8. SAS
      9. Swiss
      10. TAP
      11. United

      As you can see there are airlines which are clearly not part of the Lufthansa Group. So my question was legitimate- I don't troll.

      If I am not mistaken both OU and JP use LH's frequent flyer programme so it would make sense for them to be part of it.

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  6. Is Express Airways that German/Croatian airline?

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    Replies
    1. No, it is an German airline that specializes in charter/seasonal flights to Croatia and northern Adriatic, Italy, Southern France.

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  7. good luck to them

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  8. Lets hope they don't sell it for chips.

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  9. I have a question for guys at BEG. I am about to buy a ticket BEG-PIT with connection at CDG. Flights to CDG operated by Air Serbia. The same flight but departing ZAG is about 695$ compared to BEG 485$ + I am starting from SPU (another separate ticket 120$)
    The problem is that I have about 1.10h when coming back to connect to SPU flight and these are 2 separate tickets. Is it possible to check in at CDG before flight to BEG, so I can avoid possible rush in case of delay?? Also I wont have checked luggage...

    ReplyDelete
    Replies
    1. You cannot check-in for BEG-SPU at CDG. 1h10 should be plenty of time per se, but any delay on the CDG-BEG segment (not to mention the possibility of strike at CDG) and you're doomed. Not worth the risk for 200$ IMHO.

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    2. I hope they will introduce an online check-in by October... Flying out from SPU makes about 400$ difference, usually prices are about 1000$ on SPU-Pittsburgh route.

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  10. LH tehnika ce 99% kupiti ADR tehniku.
    INN-NS

    ReplyDelete
  11. Haha gde izvukoste ovu vintage sliku sa drugom Titom :D odlicna

    ReplyDelete

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