23 January 2020, Thursday 13:03:24

Adria to be auctioned off today

The bankruptcy estate of Slovenian’s former national carrier Adria Airways will be auctioned off today at a starting price of 45.000 euros.

The bankruptcy estate of Slovenian’s former national carrier Adria Airways will be auctioned off today at a starting price of 45.000 euros. The auction is scheduled to take place at 11.00 CET at the airline’s former headquarters in Ljubljana. At this point, it is unknown how many parties will join in the process, although anyone who paid the necessary participation fee can participate in the auction. Interest is believed to be high. At least two foreign companies will take part. In the past few days, it has emerged that a group of Russian investors is interested in relaunching the airline with an all-Sukhoi fleet.

The assets being sold off today as a whole include the AOC, as well as various manuals, including those for operations, training, maintenance, security, weather, passenger handling and cargo handling. The carrier’s AOC has been suspended until September 30, 2020, however, it will be reinstated once the buyer fulfils certain obligations set out by the Slovenian Civil Aviation Agency, among which is the possession of operational aircraft. The party that acquires Adria’s assets will also have to take on a number of obligations. Among them is the amendment of any discrepancies that arose following the revocation of the airline’s AOC and the launch of bankruptcy procedures. A Slovenian AOC would give its holder rights to maintain commercial services from Slovenia and other European Union-member states.

Slovenian businessman Joc Pečečnik, the founder of Interblock Gaming, which manufactures products for lottery games, has confirmed he will take part in the auction. He previously submitted a non-binding bid for the entire estate of the bankrupt airline in cooperation with a partner from abroad. According to reports, Mr Pečenik's plan is to establish a new Adria with the help of the carrier's former CEO Mark Anžur. Mr Anžur ran the company from late 2012 until its privatisation in March 2016. He later went on to serve as the CEO of the Irish regional carrier Stobart Air for an eight-month period.

This news item will be updated during the day.

Adria to be auctioned off today

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