Sunday, 21 July 2024
Croatia Airlines looking for buyer Croatia Airlines looking for buyer

Croatia Airlines looking for a buyer as privatisation seen as last hope

Written by  Oct 21, 2018

The national airline of Croatia, Croatia Airlines, is looking for a buyer as it looks for new owners by 2020 at the latest.

For years the airline has been propped up by government subsidies and only survives thanks to having a monopoly of internal flights inside Croatia. The airline, although it has a strong safety record, has struggled for years to find a unique position in the European market with many of the company’s decisions questioned by tourism experts in the country. And now the end of the road is near and the airline will be privatised. This change of ownership would bring much needed finance, but also undoubtedly a loss of jobs.

The CEO of Croatia Airlines, Jasmin Bajić, commented that "In accordance with the 2018 National Reform Programme, adopted by the government, Croatia Airlines has prepared a tender call for the procurement of financial advisory services to seek out the appropriate module to recapitalise and find a strategic partner. The key goal is for this reputable partner to increase our share capital and future business operations. In other words, to find strategic partner(s) that will assist with the implementation of our fleet plans and provide synergies for the company, while also taking into consideration the wider impact of such a transaction."

The Voice of Dubrovnik


Find us on Facebook