The acquisition of Adria Airways Tehnika(AAT) by Warsaw-based aircraft maintenance specialists Linetech Holding(LH) has been roundly condemned by AAT’s workforce, who, having formed a standalone company predicated on forcing through an employee buyout are dismayed that they weren’t given ample opportunity to raise their initial bid, in response to what ultimately proved to be the successful tender.

A process that was originally lauded as being conducted in a transparent manner and adhering to protocol has subsequently been overshadowed by accusations emanating from trade union representatives that amount to favoritism and blatant disregard of corporate governance statutes laid down by Slovenian Sovereign Holding (SSH), the state-owned vehicle tasked with overseeing the privatisation of publically-owned assets, that specifically encourage conditions of continuity commensurate with employee buyouts.

Had Adria Airways Tehnika’s workforce been given the chance to financially go head to head with Linetech, it is perhaps now hypothetical to postulate whether they could’ve paid upfront more than the €2 million committed by LH to former owners SSH and the Fraport-owned Aerodrom Ljubljana, the balance being made up of a further €3 million underwritten by loans. When one considers Linetech’s bid was adjudged to be the clear favourite during the keenly fought bidding process, it highlights the state’s acute desperation to divest itself of just one of the fifteen companies earmarked for privatisation. It is therefore understandable that AAT’s employees are so aggrieved at the outcome.

Having been somewhat innocently caught in the crossfire, there is absolutely no suggestion of any impropriety on the part of Linetech, who have announced their intentions to expand AAT’s capabilities and invest in the existing workforce. Whilst a commitment to its employees and the embracing of cutting edge technology would in normal circumstances be welcomed at Brnik, there appears to be many questions left unanswered regarding the sale and acquisition of Adria Airways Tehnika. 2015 has truly been an unpredictable and at times turbulent year for the Slovenian aviation industry.

Further reading on these matters can be found at:

Ex Yugoslav Aviation: Adria Airways Tehnika employees angry over acquisition by Linetech

Ex Yugoslav Aviation: Linetech committed to growing Adria Airways Tehnika