State considers potential tie-up with new Adria owner


The Slovenian government will consider jointly investing funds in a new airline set up by Izet Rastoder, who purchased Adria Airways’ assets last week. Mr Rastoder, also known as the “Banana King” due to his banana trade business, acquired the remains of the country’s former national airline through his company Air Adriatic. According to the daily “Finance”, the businessman has already held talks with Nena Dokuzov from the Slovenian Ministry for Economic Development and Technology, while Minister Zdravko Počivalšek is mulling the state’s potential participation in the business under the condition that “Slovenia” be included in the airline’s name. The Montenegrin-born Rastoder is also believed to be interested in further investing in the airline industry by acquiring a share in Montenegro Airlines, which has been seeking a buyer for several years.

Mr Rastoder is required to pay 45.000 euros within the next month for Adria’s assets, consisting mostly of flight permits, including its Air Operator Certificate (AOC), in order to acquire the rights that come with the licences. The buyer will have to take certain measures for the permits to become valid again. Adria also has several other assets, including its brand name and office headquarters, which will be put up for sale at a later date. Mr Rastoder will be able to use all the benefits of Adria's memberships in various organisations and lease the remaining infrastructure of the former flag carrier. such as its name, building and equipment, until it is sold.

Adria Airways, which was acquired by the German financial fund 4K Invest in 2016, went into receivership last autumn after years of financial difficulties. Following its collapse, the government considered establishing a new national carrier in order to retain Slovenia's connectivity to the world, however, this option was ultimately dismissed as economically unviable. The Slovenian state-owned Bank Assets Management Company (BAMC) has since proposed for the government to subsidise flights from Ljubljana to key Lufthansa group hubs – Frankfurt, Munich, Zurich and Brussels - in order to increase existing frequencies. However, Minister Počivalšek has advocated for the foundation of a new national carrier in cooperation with a foreign partner since Adria’s demise last September.




Comments

  1. Anonymous09:01

    I would not be surprised if all of this was pre planned and arranged.

    ReplyDelete
    Replies
    1. Anonymous10:03

      Well truth be told, this is more Rastoder counting on state support than the government offering it to him. The government is meeting with him to hear him out, which is normal in my opinion. I think in the end the government won't invest in this airline. We will see.

      Delete
    2. Anonymous12:29

      Well, with Sarec gone things might change. Apparently, Pocivalsek is a big fan of Adria 2.0.

      Delete
    3. Anonymous15:20

      Yes. It is. No doubt. Some people including those drive the state have their strategy around Adria to use it as a cash cow. This is the reason why Adria got so much bashing from a lot of institutions in the country, and is forced to close down. Then there was this original plan to run it as state airline. It failed. So now comes this strategy.

      Delete
    4. Anonymous13:16

      But Russians offer their Superjets again and again)

      https://www.linkedin.com/posts/oleg-e-40151539_new-adria-new-chapter-superjets-for-activity-6628252622006571008-lVYF

      Delete
  2. Anonymous09:03

    Great in the end tax payers will give money for this adventure.

    ReplyDelete
  3. Anonymous09:04

    Company logo
    https://i.ibb.co/LPYx83k/82625214-10218302426666204-3187506035946422272-n.jpg

    ReplyDelete
    Replies
    1. Anonymous09:08

      LOL :D

      Delete
    2. Anonymous09:18

      And first plane...
      https://tinyurl.com/uzh38gz

      Delete
    3. Anonymous11:11

      Can't this just end?

      Delete
    4. Anonymous13:20

      Haha those are good :D

      Delete
  4. Anonymous09:04

    The saga continues.

    ReplyDelete
    Replies
    1. Anonymous09:52

      Televisa presenta - again.

      Delete
    2. Anonymous14:00

      +1

      Delete
  5. Anonymous09:06

    So he will be making a commercial airline after all. He didn't buy the licenses just for a private air taxi company.

    ReplyDelete
    Replies
    1. Anonymous09:15

      There would be little sense of him buying an AOC for 45,000 and taking on all the obligations to get it valid just so he can launch an air taxi business with 2 planes.

      Delete
  6. Anonymous09:08

    This is what I feared would happen.

    ReplyDelete
  7. Anonymous09:08

    Didn't 4K sell Adria name?

    ReplyDelete
    Replies
    1. Anonymous09:10

      Yes they sold it to their own phantom company. Then a few years later the phantom company was absorbed by Adria meaning Adria got back ownership of its brand.

      Delete
  8. Anonymous09:11

    The airline business seems so sexy for people. A bit further in time they realize what it is all about- losing money.

    ReplyDelete
  9. Anonymous09:12

    Well while the government decides what it wants to do - one day they want an airline, the other they don't - more and more foreign airlines will launch flights to LJU making the need for a new national airline completely unnecessary.

    ReplyDelete
    Replies
    1. Anonymous09:20

      Agree. The more time passes the less of a possibility there is to establish a flag carrier.

      Delete
    2. Anonymous11:12

      Why a small country in the middle of nowhere needs a national carrier?

      Delete
    3. Anonymous11:14

      Middle of nowhere? Really?

      Delete
    4. Anonymous20:12

      It is actually in the middle of everything

      Delete
    5. Anonymous20:46

      Ah, yes. The old "we'll be getting flights to every corner of the planet, so no need for a national carrier" argument.

      How come we're still waiting to get flights to previously served destinations (PRG, VIE, CPH spring to mind)?!

      Delete
  10. Anonymous09:15

    Surprise Surprise.

    ReplyDelete
  11. Anonymous09:18

    Waste of money.

    ReplyDelete
    Replies
    1. Anonymous09:28

      Expenses and risks would be shared between Rastoder and the government.

      Delete
  12. Anonymous09:19

    It's barely been 3 days since he bought Adria and he is already planning on buying Montenegro Airlines!

    ReplyDelete
    Replies
    1. And after Montenegro he could buy Croatia, and make one single Banana Airways, which perfectly suits for all 3 of these banana republics and their respective banana civil aviations

      Delete
    2. Anonymous11:49

      LOOL

      Delete
  13. Anonymous09:21

    Pocivalsek should give up.

    ReplyDelete
    Replies
    1. Anonymous09:23

      Perhaps he feels guilty for the role he played in selecting 4K Invest and destroying Adria Airways.

      Delete
    2. Anonymous09:26

      As long as there is Slovenia in the airline name it is good enough for Pocivalsek lol.

      Delete
    3. Anonymous09:54

      I'm interested to see how creative they will be with the name :D

      Delete
    4. Anonymous10:09

      I propose a name BananAir

      Delete
    5. Anonymous10:44

      Pocivalsek doesn't feel guilty. He's desperate to get attention as the new leader of the "SMC" Party. He jumps on every opportunity to be in the news.

      Delete
    6. Anonymous14:20

      Appropriate name: Banana Republic Airways

      Delete
  14. Anonymous09:21

    This will not work.

    ReplyDelete
  15. Anonymous09:21

    Good idea.

    ReplyDelete
    Replies
    1. Anonymous09:22

      Then the minister should invest his own money into this airline. Not ours.

      Delete
    2. Anonymous09:31

      ^ and you should cover the loss which we are suffering because of bad connectivity.

      Delete
    3. Anonymous09:35

      what bad connectivity are you guys still dreaming?

      Delete
    4. Anonymous09:42

      Adria's bankruptcy didn't catch anyone by surprise and everyone knew they would go bust. Why didn't the government act in time to secure Slovenia's connectivity they are so concerned about now?

      Delete
    5. Anonymous09:45

      @ 9.35

      Since Adria went bankrupt, what exactly has been covered other than 4 routes operated by Lufthansa group?

      Delete
    6. Anonymous11:09

      Every single route that there was demand for has been covered or it will soon be covered come Summer season.
      Where else you and enough other people to fill a plane regularly want to fly direct and the no airline has looked into offering flights?
      I would really like to know!

      Delete
    7. Anonymous12:35

      Well, to those going abroad once a year, the connectivity is superb. As for those of, us, commuting abroad weekly, it's horrendous. It was bad enough before, but now it's unsustainable.

      Delete
    8. Anonymous13:21

      100% true - either we need to spend 2 nighs additionally or drive 3am to klagenfurt over mountains or to graz to catch the first flights out.
      don't think that summer morning flight to FRA will solve this with all the turists coming in in summer...

      Delete
    9. Anonymous14:47

      Well written in last two comments!

      In many newspapers (even finance!?) we can read about how LH group has replaced missing routes after Adria bankrupcy. For EU hubs its crucial that you have convenient timetable and it is inadmissible to arrive on EU hubs in early afternoon. Everyone who's flying at least twice per month can feel shortage of flights.

      Delete
    10. Anonymous18:08

      yes, but that is a question of convenience, not connectivity. you mix those terms. yes, currently is kind of pain in the you know what, but the connection is there. and you can get everywhere with a stopover at BEG, FRA, MUC, etc. That's my beef with people calling out that there is no connectivity. It is (i.e. the connectivity is there), but we can all agree that at least until SUTT it is sub-optimal. But noone in their right mind can claim no connectivity.

      Regarding other cities...Fraport said themself that TIA and PRN had 95% transfers, so NOBODY was flying there O&D LJU-destination. So calling out no connectivity fotr 5 passengers per da O&D is childish.

      Delete
    11. Anonymous20:31

      The only one mixing up terms is you, annon
      18:08.

      Choosing between 3 or more different flights to a multitude of different destinations would be CONVENIENT, having NO fligths to a destination means NO CONNECTIVITY.

      I hope I made it clear enough for you.

      Delete
    12. Anonymous20:36

      I don't see that anyone mention anything regarding no connectivity. It is obvious that LJU has much worse connectivity than it was before and this has effect on many things (among others on total economy but let's leave little things).

      I don't know whos lying now, you or Fraport as there was not even one route within JP which had more than 50% of conx passengers. Please let me know where you found Fraport statement regarding that as I really doubt that it exists.

      Delete
    13. Anonymous21:23

      @annon 20:36:

      Well, it sure seems that annon 18:08 was trying to persuade everyone that Ljubljana's connectivity is not an issue. According to him/her, you can get everywhere from LJU. Well, I would sure like to get to VIE in less than 6 hours (and not use a car).

      Delete
  16. Anonymous09:24

    Do not burn taxpayers money again!

    ReplyDelete
  17. Anonymous09:26

    And where will they find local captains for this airline? Everyone has moved on to other jobs.

    ReplyDelete
    Replies
    1. Anonymous14:08

      And why would they need "local captains"?

      Delete
    2. Anonymous14:57

      Because nobody will work for 4k euros per month (if they will even fork out that much for a captain's position) with non-commutable roster (as was with Adria).

      Delete
    3. Anonymous21:36

      First of all, plenty of Slovenians would happily come back for even worse conditions that Adria had, because they would be home.

      Second, why couldn't they offer a commuting roster? Adria is gone and things can be done in a different way, no need to stick to the same model for the next 100 years.

      Delete
    4. Anonymous21:43

      Well, considering almost all former Adria pilots signed 3+ year bonds, worth 15k+ euros, I sincerely doubt they'll be coming home to earn 3k euros per month.

      Considering (almost) no airline in Europe currently offers commuting contract (Lauda's 5/2/5/3, Nordica's 6/1, Lot's random roster aren't exactly commutable), why would Adria 2.0. You do realise you need quite a few crew members to spare in order to offer such a deal?

      Delete
  18. Anonymous09:27

    Not again!

    ReplyDelete
  19. Anonymous09:32

    I don't think it is such a bad idea. They don't have to invest much.

    ReplyDelete
    Replies
    1. Exactly, as long as they don't buy or lease planes the required investment is minimal.

      Delete
  20. Anonymous09:32

    by the looks of the tenacity of the minister in pushing this agenda, it seems not enough nieces and nephews & political party wannabees are willing to move so the politicians need to provide them with a titty again at the doorstep.

    ReplyDelete
  21. Anonymous09:34

    Why doesn't Slovenia just do what Macedonia did? Invest 2 million per year into Wizz Air to open a base and launch routes. It would be much more beneficial for the public.

    ReplyDelete
  22. Anonymous09:36

    ''The state with set up a new ''Banana Airlines'' with the help of a new ''Banana Import Company'' which will deploy the new Boeing 777X to import bananas from Ecuador to Ljubljana Airport.
    Great plans!

    ReplyDelete
  23. Anonymous09:43

    Why do people hold such hatred towards a potential part owned state airline?

    ReplyDelete
    Replies
    1. Anonymous09:48

      People just have a hatred for their money to be thrown at vanity projects.

      Delete
    2. Anonymous09:56

      Let it first get off the ground before we judge if it is a failure or not.

      Delete
    3. Anonymous14:10

      Yes, let's invest money without expecting results. That will work.

      Delete
  24. Anonymous09:48

    If an airline was to be set up at Ljubljana. What fleet would be optimal and how many aircraft? What routes should be covered.

    ReplyDelete
    Replies
    1. Anonymous09:52

      No place for small airlines in ruthless European market.

      Delete
    2. Anonymous09:54

      Couple of CRJs for most important routes. Certainly nowhere near the size of Adria.

      Delete
    3. Anonymous10:08

      They will use Superjet :D

      Delete
    4. Anonymous12:52

      fleet of 3-6 E290's would fit best same size of CRJ's would be good enough.

      Delete
    5. Anonymous14:11

      +1 Anon 09:52.

      CRJ is history, when it comes to fuel efficiency.

      Delete
    6. CRJ? SSJ is far more economic plane ....

      Delete
    7. Anonymous21:38

      Yep, it doesn't burn any fuel while it waits for the spare parts.

      Delete
  25. Anonymous09:53

    No Russians involved? lol

    ReplyDelete
  26. Anonymous09:55

    Doubt this will ever get off the ground.

    ReplyDelete
  27. Anonymous09:55

    Pocivalsek might be pushing his agenda but I don't think the PM is interested. And without his blessing this will never go forward.

    ReplyDelete
  28. Anonymous09:55

    Dear God! New week started but there is no end of this saga....Really looking forward to hear some other news from region, we elaborated this so many times...probably got bored for gold medal!

    ReplyDelete
  29. Anonymous09:57

    Bravo Slovenia!

    ReplyDelete
  30. Anonymous09:57

    So much negativity. Relax people.

    ReplyDelete
    Replies
    1. Anonymous10:01

      +1

      Delete
    2. Anonymous14:12

      Funny how realistic views are being judged as overly negative here.

      Delete
  31. Anonymous09:58

    Good luck.

    ReplyDelete
  32. Anonymous09:58

    Ha,ha,ha this is a good joke...

    ReplyDelete
  33. Anonymous10:01

    This would be great news for Ljubljana. Wish them all the best!

    ReplyDelete
    Replies
    1. Anonymous10:03

      By the time this airline takes off, LJU will have recovered.

      Delete
    2. Anonymous10:06

      I think it will take until mid 2021 for LJU to fully recover. We will see.

      Delete
    3. Anonymous14:32

      in 2021 figures will be close to what we have now but that is not going to solve the problem as Slovenia will take Presidency of EU so actually figures should be 30% higher (as it was in 2008). So acually even with same figures that would mean disaster in economy.

      Delete
    4. Anonymous18:16

      last anon: not at all.

      remember out of 1.2 million JP's passengers only 400k passengers were O&D LJU, others were transfers (and direct TIA and PRN routes). Sou you only need to "recover" those 400k passengers for the national economy effect. The other transfers were bringing to the national economy very little, cause they didn't spend anything in the country, JP had a loss, so no profit tax, VAT was charger outside of country, fuel is not taxed and was regularly purchased outside LJU if it was cheaper, airport fee for tranfering passengers is lower, etc. etc. you can see where i'm going with this.

      So anything that is bottom LJU numbers + at least 400k passengers at LJU is in green winning mode.

      Delete
    5. Anonymous21:11

      last anon: not at all.

      Highest percentage of conx pax had PRN, TIA and SKP and none of them had more than 50% of conx passengers. Then you have plenty of routes which were mainly for P2P traffic (AMS, BRU, CPH, VIE and SVO before) so you should recheck your data source.

      I don't know why Fraport had to dismiss so many employees if majority of JP pax were transfer pax?

      Now even those who would travel has to decide to depart or arrive from/to near airport (ZAG,TRS, VCE, KLU) so how much better for economy is that?






      Delete
    6. Anonymous21:52

      fraport themselves said at a press conference i was at that those two routes were 95% transfers. so head of operation at LJU had unreliable numbers...i highly doubt it.

      Delete
  34. Anonymous10:07

    Please include Maribor Airport in your plans.

    ReplyDelete
    Replies
    1. Anonymous10:29

      That would cement their failure.

      Delete
  35. Anonymous10:08

    Adria Banana Airlines.

    ReplyDelete
  36. Anonymous10:14

    Banana Republic...

    ReplyDelete
  37. Anonymous10:27

    "Minister Zdravko Počivalšek is mulling the state’s potential participation in the business under the condition that “Slovenia” be included in the airline’s name"

    This kind of incompetent parasites living in the 19th century is what holds our whole region behind.

    ReplyDelete
    Replies
    1. Anonymous10:29

      Not that I'm trying to defend him in any way, but if the government is going to invest money in a new venture to a business that wants to become a national airline, it would make sense for that one of the requirements is to brand your country.

      Delete
    2. Anonymous12:09

      I'd rather have them 'brand' the country by striving for efficiency, innovation, sustainability, fairness (in all sectors of society, aviation included)

      Delete
  38. Anonymous10:33

    The PM just resigned and we are having new elections very very likely. So this 'partnership' is postponed to after the elections...

    ReplyDelete
    Replies
    1. Anonymous10:35

      Was this expected or a surprise? Asking as an outsider on Slovenian politics.

      Delete
    2. Anonymous10:38

      In aviation terms.. this will end up CFIT !

      Delete
    3. Anonymous11:16

      Anon 10:35, we have a minority government - so it was not really a surprise.
      However the PM announced a partnership with SMC (whos president is Počivalšek) for the new elections - so we can expect Počivalšek to try and go after this project after the elections if they make it into the new government.

      We will see what happens, but the 'partnership' is nevertheless on hold until the new government. Or at least any major decisions about it, because nobody will want to do anything with elections approaching.

      Delete
    4. Anonymous11:20

      Interesting. Will the Adria bankruptcy have any impact on voters or is at a non issue?

      Delete
    5. Anonymous12:31

      Adria's bankruptcy is yesterday's news, it won't affect the election.

      Delete
    6. Anonymous13:21

      Maybe Počivalšek becomes new PM after elections :D

      Delete
  39. Anonymous10:37

    Like someone said, considering the political situation I think any partnership will be delayed. Unless someone wants to use this for their political gain.

    ReplyDelete
  40. Anonymous10:43

    Will this new airline retain Adria's position in IATA?

    ReplyDelete
    Replies
    1. Anonymous14:13

      No, and you don't really need to be IATA member these days anyway.

      Delete
  41. Anonymous10:50

    Nena Dokuzov + Zdravko Pocivalsek = success guaranteed :-) :-)

    ReplyDelete
  42. Anonymous11:18

    Slovenian PM just handed in his resignation. No governmental decisions for the next half a year.

    ReplyDelete
  43. JU520 BEGLAX12:03

    Montenegro Banana and now airline, sounds of money laundring otherwise no serious bizmen would invest into an airline in our YU region. Probably a friend of Mr. 10% Jankovic

    ReplyDelete
    Replies
    1. Anonymous18:20

      only 10% ? :D

      Delete
    2. He should hire Bandic for advisor to at least double it, he will be available soon :)

      Delete
  44. Anonymous13:19

    Let's see how this turns out with the new political situation.

    ReplyDelete
  45. Anonymous13:19

    Didn't minister say they will coordinate all their decisions on new airline with Lufthansa?

    ReplyDelete
  46. Anonymous16:15

    I used to travel every week for busines. Not able any more. LJU is full of plain lies claiming they reestablished the basic connections. They haven't done anything but relaxing running in idle. Ze germans ought to sink about changing zis management. Incompetent af.

    ReplyDelete
    Replies
    1. Like your pronunciation LOL. Sehr Hochdeutsch :)

      Delete
  47. Now surprisingly,russians will enter with SSJs :)

    ReplyDelete
  48. Anonymous13:13

    Sukhoi’s participation in the project could be an excellent way for both Minister Počivalšek and Mr. Rastoder. If I were a minister, I would invite representatives of Sukhoi and Rastoder to my office and would suggest that they agree among themselves.
    Rastoder would receive planes, and the minister would demonstrate concern for the state and save state money

    ReplyDelete
    Replies
    1. Anonymous13:17

      Brilliant idea..

      Delete

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