Croatia Airlines up for sale

Victoria
By Victoria April 25, 2013 13:19

Croatia Airlines up for sale

The Croatian government intends to sell a stake in state-owned carrier Croatia Airlines, which has been surviving on government subsidies to keep it flying.
When Croatia joins the European Union on July 1, those subsidies will have to end and Croatia Airlines will need to finance at least half the cost of a restructuring plan already in place that includes sacking 200 employees and cancelling flights.
“We will fight for CA to survive, but if you’re following the regional markets, you have to know that all regional airlines are in a bad shape and are struggling to find strategic partners,” Transport Minister Sinisa Hajdas Doncic said this week.
Although he indicated that the government was already in preliminary talks with “potential strategic partners”, none were identified.

Victoria
By Victoria April 25, 2013 13:19
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