Adria Airways Tehnika’s(AAT) minority shareholder Aerodrom Ljubljana have surely given a resounding thumbs down to the five binding bids received for the Brnik-based aircraft maintenance concern, the Fraport-owned airport announced on Wednesday.
Despite a stake of 47% being dwarfed by the state-restructuring company PDP’s 52.3% holding, Fraport have enough sway in the affairs of Adria Airways Tehnika to be able to call for the five bidders, including the Croatian-based Zagreb Traffic Institute and German counterparts Express Airways to increase their bids for the former Adria Airways-owned enterprise. Despite a seemingly interminable process that has seen the final deadline for binding bids extended on several occasions, Fraport’s decision to request improved bids from the five interested parties is perhaps an attempt to separate the wheat from the chaff although, it will also elongate the whole denationalisation process yet further. Furthermore, a risk of many, if not all of the quintuplet of bidders pulling out of the race for AAT would see the whole process then having to start from scratch.
Such glacial progress will undoubtedly frustrate Slovenia’s incumbent administration’s attempts to balance the country’s books by privatising fifteen state companies, Adria Airways Tehnika numbered amongst them.
Further reading on this subject can be viewed at: South East Europe News: Adria Airways Tehnika initially unhappy with bids