Monday, October 5, 2015

Intro Aviation considering Adria acquisition

Intro Aviation seen as strong contender for Adria stake

The German-based specialist turnaround consultant, Intro Aviation, is believed to have put in a bid to acquire a 91.58% stake in Adria Airways, EX-YU Aviation News learns. It is the second time the company has been eyeing shares in the Slovenian carrier, as Intro Aviation is said to have placed one of the strongest bids for the airline during its first, failed, privatisation attempt three years ago. Intro Aviation is a consultancy firm which has turned around several loss making carriers, including NFD (presently known as Eurowings), as well as dBa and LTU International Airlines, which have since been integrated into Air Berlin. Its latest acquisition includes the Air France subsidiary CityJet. The company specialises in buying airlines, improving their finances and business and then selling them.

Adria Airways' CEO, Mark Anžur, says the deadline for the submission of binding bids for a majority stake in Adria has passed, adding that the sale should be finalised "in a few months". "Some offers have been received but I do not know much about them. Everything will come down to negotiations with potential investors", Mr Anžur says. Adria's CEO previously noted it would be best to offer the carrier to small airlines or financial investors, as big European players have "problems of their own". The Slovenian Sovereign Holding, which oversees the privatisation of state-owned assets, says, “As part of the sales procedure, the financial advisor has contacted the widest possible range of potential investors from around the world. The sale of each company varies and we will not comment on a timeframe when the acquisition might be completed”.

Adria faces a difficult winter ahead as it deals with liquidity issues during the slow months. Mr Anžur says the carrier will persevere by taking out additional loans and selling property. "For us it is nothing new", the CEO notes. During the first eight months, Adria recorded a 16% increase in passenger numbers compared to the same period last year. A 10% rise in passengers was recorded at its main hub in Ljubljana. However, Mr Anžur says that the autumn period will determine the carrier's annual financial performance. The Slovenian Ministry of Finance recently said it was aware of liquidity problems at Adria. However, while the airline admits it is "in need of fresh funds as winter remains a problem due to a weaker performance", it added it has "no problems with liquidity".

70 comments:

  1. A nice list of disaster companies

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    Replies
    1. ...which they turned around.
      Exactly what JP needs!

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  2. Well it's more realistic than Etihad, China Southern, Qatar Airways....

    I also heard Danish Air Transport is interested in Adria.

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  3. They've done a pretty good job with City jet so far. City jet plans to buy 5 Sukhoi Superjet100s! It was just announced by the Russian Trade Ministry.

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    Replies
    1. Imagine Sukhois in Adria's fleet :D

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    2. Unfortunately it may happen before we see them in Air Serbia's livery.

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    3. City jet is doing very well since Intro bought them. They just announced they are purchasing Blue1 from SAS!

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    4. I like that City Jet news! Sukhoi definitely manufactures the best air transport products that Russia currently has to offer.

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  4. The main problem is the lack of knowledge how aviation business works in Slovenian government, because only idiots would sell 91% of the state-owned airline, so no company with excess of money (QR, EY,...) couls buy it. Instead they are selling it to no-name postbox companies - well, if their plan is to destroy Adria with their hands clean, they are doing a wonderful job so far...

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    Replies
    1. I am sure that if QR or EY really showed interest, then they would have had no problem selling 'only' 49% of Adria.

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  5. Da li je bolje biti prvi u selu ili zadnji u gradu.

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    Replies
    1. Prakticno je biti u sredini, pod uslovom da ste skromni. U suprotnom kompleks. Visine ili nizine. Pa borba za opstanak, ili ostanak. Zavisno ko je na kome mestu... Mozda me ne shvatate. Mozda? Skromnost je krucijalna, a ambicija je neizostavna. To dvoje zajedno daju uspeh. Ukljucujuci i biznis. Rodney🌏Kraljevo✈Sydney.

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    2. Radovane, tebe ovde niko ne shvata nazalost, jer su tvoji postovi jako komplikovani za citanje!

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    3. Zelis reci "Mi retardi te uopste ne razumemo"?

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    4. +1
      mislim da je jasno sta je hteo da kaze Rod.

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  6. Last time round the plan was to buy Adria and integrate it into Air Berlin. We will see what will happen this time around.

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  7. OT: Zagreb airport in September

    9/2014 251284
    9/2015 271647

    +8%

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    Replies
    1. Good job Zagreb!
      Hopefully next summer Aegean will also be flying to ZAG from ATH.

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    2. Does anyone know who fuelled all this growth? We know it wasn't OU.

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    3. New routes that was not here last September:
      Swiss 7pw
      Brussels 6pw (part of September)
      Air Serbia 14pw
      flyDubai 4pw
      Qatar 7pw non stop (last year it was 1stop via BUD)

      but also Croatia Airlines had more pax

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    4. So basically Air Serbia is fuelling the passengers growth at Zagreb hahaha :D

      Any indication on how that route has been doing?

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    5. Bravo, Croatia!

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    6. Anonymous 12:46 PM how can you make this conclusion? Air Serbia average pax no is 30 per flight. So that is 120 pax per day (two way). It is some 3.600 pax, but for sure some of those they took from other companies.

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    7. Great news for ZAG. I am surprised that they are doing this well, considering the size of the terminal. It must be bursting at the seams during busy times. It also takes a good team effort , by all the airport staff, for this to happen. I can just imagine the growth, once the new terminal opens.

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    8. Go Zagreb, nice news, love the new terminal, looks fantastic! Also happy to see OU's Airbus a320 neo order!

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  8. OT: Today I was wondering, aren't there a bit too many airports in Bosnia & Herzegovina? I have shared my thoughts on the forum (http://www.exyuaviation.com/p/blog-page_36.html), in the B&H section. What are your opinions?

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  9. http://exyuavforum.lkwhx.com/viewtopic.php?f=10&t=73

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  10. OT: Zračna luka Dubrovnik 9.mjesec

    2014: 234,395
    2015: 254,454

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  11. OT: fotografije novog terminala na Plesu

    http://www.jutarnji.hr/novi-izgled-zracne-luke-pleso/1431536/?secId=79

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  12. Off Topic: OU will be taking four A320 NEO's!
    Announced by Airbus in it's September orders report.

    http://www.airbus.com/company/market/orders-deliveries/

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    Replies
    1. Super, mene zanima kakvi su im onda planovi. Nove destinacije? Hoce li ih netko uopce kupit?

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    2. Vise puta je ovde pisano kakvi su im planovi, i sto se tice destinacija i sto se tice flote.

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    3. Otkud pare? Novi krediti pa da se hrvatski narod utopi od kredita (kad dug bude preko glave) i dugova?
      Vec se skoro Hrvatska i hrvatski narod "utopio" od dugova a kad bude jos kredita i dugova samo ce jos dublje da tone. Ako nema para za 4 A319, kako onda ima para za 4 A320? Balkanska logika.

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    4. I bet they just changed OU's 2008 A319 order to A320neos because it is seems that OU won't take those planes up before the ceo line is shut down.

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    5. Pa dobro, ali s kojim parama ce platiti? A319 kupovina se bas zaustavila jer nema para a Ivo Sanader je Hrvatsku zeznuo s tom narudbom. S cim ce A320, i to jos 4 aviona, platiti?
      Vec su dugovi hrvatski veliki a ako drzava uzme jos kredita, bice hrvatskim gradanima dugova preko glave i nece dugo godina i generacija to sve moci platiti.

      Hrvatska vlada ce gradane vec sada ostaviti u mnogo velikim dugovima za dosta puno generacija a jos novi krediti nece olaksati situaciju. Ja mislim da ce ovo biti kao i A319 kupovina i da ce avioni biti prepisani na investitora i da ce oni to platiti, jer u sadasnjoj ekonomskoj situaciji je samo idiotski jos vise se zaduziti.
      Vjerovatno ce biti kao sa A320 narudbom Air Serbia, avioni ce pripadati i bice u ime Etihada. Tako i sa OU i tu neki investitor ako ga bude.

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  13. BEG, september : 491 656. +1,3%

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    Replies
    1. All other ex-Yu airports had way bigger growth in passengers than 1.3%.
      What is going on with Belgrade airport?

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    2. This

      http://www.exyuaviation.com/2015/08/foreign-carriers-record-mixed-results.html

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    3. Air Serbia +
      all other -
      = modest + (for now)

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    4. Looks like that this is kind of a limit of BEG

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    5. BEG had a huge growth last year and it is now struggling to maintain it. The airport is still doing much better compared to organic growth it would have had without Air Serbia. And there is still a lot of room for growth.

      So I would not put the champagne on ice just yet if I was you guys.

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    6. I don't think BEG has much room for growth left.

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    7. Of course it has no room left. It will stay where it is forever while all other exYU airports will keep on growing forever.

      Goodness, if hatred could be packed and exported the Balkans would be by far the richest region in the world. All the Gulf states would be no more than beggars compared to it. Alas.

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    8. BEG's cap in the current market conditions should be between 9-11 million if Air Serbia was to pull its act together. Cargo could grow tenfold.

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    9. Belgrade was the best performing airport, in respect of passenger growth, in whole of Europe last year. And it is still 100% ahead in terms of number, as compared to the second one in the regional list Aerodrom Zagreb. we will see a quieter winter period, but I expect the growth to skyrocket, once transatlantic flights take off in M|Arch (if you gonna respond with a sad cynical story on how there wont be any of these flights, save your breath for later).

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    10. Rast je rast nema veze kakav je takodje ne treba zaboraviti a Kargo promet koji je najveci u LYBE .
      Drago mi je da ste se vratili Aэrologic posto ste hvalili ovde .
      INN-NS

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    11. zasto se odustalo od najavljenog prosirenja terminala II. nema nista od novih gejtova C7-10.

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    12. Prosirenje pocinje u decembru. Citaj malo pazljivije

      http://www.exyuaviation.com/2015/08/belgrades-t2-expansion-to-begin-in.html

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    13. u tome i jeste problem - prosirenje ne pocinje u decembru. proverite sta se desava u realnosti pa onda komentarisite - bez uvrede

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    14. ASL stopped flying to BUD!
      And you are expecting them to develop their traffic numbers to a point that BEG serves 10 million passengers?
      Not by ASL who despite all the subsidies it gets can not even support tree flights a week to BUD.
      Or to Cyprus.
      I think that those that say BEG can not get any larger are right. Foreign carriers are reducing seats and ASL is cutting both frequencies and destinations.

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    15. Pa dobro, vazno da si ti ovde sa svojim strucnim misljenje, 'hvalilo' nam je ovih dana.

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    16. Cheers Inn, we were missing you yesterday ;)

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    17. Da li je makar počelo da se radi na hodniku između T1 i T2 i novim ček in mestima?

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    18. Jeste. Bio sam prosle nedelje na aerodromu i sve je ogradjeno

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    19. BUD is a shame and so is LCA (to a less extent though). I don't see how with such management and organization they could make work obvious in my opinion lines such as EVN, AMM, CAI and even Kiev following the ban of Russian airlines which will completely change the market picture.

      That notwithstanding, BEG is in an ideal position in Europe shared only with BUD and as such there is plenty of room for growth especially in the cargo area, what last year's increase only serves as an indication of.

      Delete
  14. Makes perfect sense. A German company buys Adria, German company buys Ljubljana Airport.

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  15. Zanima me dali bi onda oni menjali flotu kompanije i nadam se da ce ih kupiti.
    INN-NS

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  16. OT: things are heating up in Air France.

    http://www.theguardian.com/world/2015/oct/05/air-france-workers-storm-meeting-protest-executives-job-losses-paris

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  17. JP 310 today LJUZRH EZD 1420h 57 Pax out of 86 seats

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    Replies
    1. Hmm that's not that bad, I mean, we are in October...

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    2. And with 4 daily flights...

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  18. This would be a great acquisition. Intro is well known and has a very good reputation in the industry although they seem to fail in turning around InterSky which is just too limited in their tiny FDH/FMM home market. With all other airlines i can think of they have been successful. One should be happy for JP if this is true.

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  19. well, well, well ASL today SPU-BRE v.v.

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    Replies
    1. http://www.flightradar24.com/EPR102/79e2eaf

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    2. It is obvious mistake by flightradar24, this flight is not performed by YU-ALO, cruising speed is below 150 kt.

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    3. Really?? Rewind flight radar and you will see EPR100 (BEG-SPU) as well, and expect ERP103, and EPR101. Have a nice night.

      Delete

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