Confusion surrounds the future of Adria Airways Tehnika(AAT), the Brnik-based aircraft maintenance arm formerly attached to Slovenia’s flag-carrier but now part publically-owned through state holding company PDP, with Fraport, the German owner/operator of Ljubljana Aerodrome possessing a minority 46% stake in the company.

Reports indicating that the Lithuanian-based Avia Solutions Group are in pole position to acquire AAT have been countered in the popular press, suggesting Avia’s binding bid, even after the rumoured five interested parties were asked to supplement their initial offers, is still considered to be inadequate for a business whose busy order book suggests it is a thriving enterprise. Avia would though appear to be an ideal fit for AAT, their catchall remit encompassing all aspects of aviation services, maintenance and personnel. Being a worldwide concern in the aeronautics field would put AAT in specialist hands, potentially enabling its growth to be more exponential than organic once Avia’s expertise, contacts and global reach had been fully exploited. There does though seem to be a marked difference between Avia’s top bid and the value AAT places upon itself, it being fully aware that a business displaying robust trading figures cannot justify being let go below market value.

Despite other interest during the bidding process there hasn’t exactly been a clamour amongst the aviation sector for outright ownership of AAT, although, a late offer from a previous bidder or a new speculator cannot be ruled out. As one of the fifteen part or wholly state-owned companies earmarked for privatisation by Slovenia’s incumbent administration, Adria Airways Tehnika does have some outside pressure on it for a quick sale to be concluded but despite a denationalisation process that countrywide has hardly gone to plan, it is surely obligatory for all stakeholders to realise the best possible price AAT, otherwise risking the accusation that the desire to divest the state of so many respected public institutions is nothing more than a fire sale, buying the country some much needed but ultimately short-term financial breathing space.

Further reading on this subject can be found at:

Ex Yugoslav Aviation blog: Avia Solutions eye Adria Airways Tehnika takeover

Dnevnik: Lithuanian bid for Adria Airways Tehnika still too small