Adria Airways’ AOC validity extended

GLOBAL AVIATION NEWS

Spain eyes Air Europa stake

The Spanish government is considering the possibility of acquiring a share in Air Europa after the debacle of the airline’s by the IAG group. Though the Spanish group and Globalia, Air Europa’s parent company, have committed to reviewing the possibility of an agreement before the end of the month, the government is considering becoming a shareholder in the Hidalgo family’s airline. In mid-December last year, IAG and Globalia announced the definitive termination of the agreement signed on November 4, 2019, according to which Iberia agreed to acquire the entire share capital of Air Europa for €500 million. The financial difficulties of the industry in general and the obstacles put in place by the European Commission’s competition authority were the reasons - among others - for that decision. Acording to Nadia Calvino, the Deputy Prime Minister and Minister of Economic Affairs and Digital Transformation, the government is “considering” buying an equity stake in Air Europa. “At the moment we are exploring all possible options”, she said. These options include the possibility of the government taking a “minority stake” in the company or sharing ownership of the airline with IAG and the Hidalgo family, the current owners. Thus, the government could acquire up to 40% of the airline’s shares. Air Europa has received more than 600 million euros from the state in the form of bailouts and economic and financial aid. Among the options being considered by the government is to capitalise part of this debt as shares in the airline. Air Europa suffered record losses of 428 million euros in 2020 and everything seems to indicate that in 2021 it will repeat those losses, having recovered only 19% of the traffic recorded in 2019.

Adria Airways’ AOC validity extended

NEWS FLASH

The Slovenian Civil Aviation Agency has extended the validity of Adria Airways’ suspended Air Operator’s Certificate (AOC) in order to give its holder Air Adriatic, which is owned by businessman Izet Rastoder, more time to fulfill certain obligations set out by the regulator, among which is the possession of operational aircraft. Air Adriatic acquired Adria’s AOC for 45.000 euros in January. The AOC is currently suspended until September 30, 2020 and was to be terminated afterwards if a number of obligations were not addressed. Among them is the amendment of any discrepancies that arose following the revocation of Adria’s AOC and the launch of bankruptcy procedures. Air Adriatic will now have until March 31, 2021 to meet all obligations in order to use Adria’s AOC. Furthermore, it is believed Mr Rastoder’s company may purchase Adria Airways’ brand name. Binding bids for the Adria brand must be submitted by tomorrow.

Comments

SLO AIR10:37
Just buying time....
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Anonymous11:19
No luck selling it then?
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Anonymous11:28
Will this ever end?
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Anonymous12:09
IATA code: JP
ICAO code: ADR
Callsign: BANANA
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Anonymous13:11
AOC cannot be valid without Operating License and without effective Management System, perosnnel and facilities, Accountable Manager, Nominated persons, etc... By what means of compliance SI.CAA believes this AOC is valid?
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Adria Airways’ AOC validity extended

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