Further to yesterday’s blog post I attach a link to an excellent article by The Slovenia Times on the rapidly changing developments regarding the protracted process to privatise Adria Airways.
The remaining eight or so percent holding of Adria is held by a triumvirate of banks, all of who will be as keen as the majority shareholders that a swift resolution can be reached. It is though to be hoped that somewhere in the rush to offload Adria to the private-sector that a deal for the best interests of the country and the good of the nation’s flag carrier, and not just the shareholders, can be reached to appease all parties, including opposition politicians who quite rightly are alarmed by the lack of consultation with the electorate over which public institutions should be jettisoned and those to be ring-fenced in perpetuity.
A smaller airline would seem to be a more suitable fit to take Adria forward but whether this would involve absorbing Adria’s routes and staff into an incumbent framework, thus potentially losing forever the Adria ‘brand’, it is for now impossible to say. It is theoretically possible that a condition of sale might have been inserted into any potential deal insisting that the Adria name lives on, whatever the intentions of any would be suitors might be. It is perhaps though unrealistic to expect any such concessions to be granted in what is, after all, a buyers market. The future trajectory of Adria Airways will indeed be an intriguing one although, it is unlikely those with an interest in the airline, be that through a financial or emotional attachment, or, whose views are politically motivated, will all be pleased by the outcome of its sale, should one actually happen. In business, politics and life in general, it is practically impossible to please all of the people all of the time.
Reporting on this issue can be found at: Slovenia Times: Adria finally gearing up for privatisation?