Croatian Government looks to sell 70% stake in national carrier, reports suggest

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 11, 2019 12:20

Croatian Government looks to sell 70% stake in national carrier, reports suggest

The Croatian government is planning to sell 70% of its stake in national carrier Croatia Airlines by June 2020, according to media reports.

The Minister for Sea, Transport and Infrastructure, Oleg Butković recently stated that the government’s recent decision to inject €33.7 million into the airline would help it find a strategic investor which would agree to a partnership “based on 30% state ownership, and 70% private investment”.

“Consultants are currently looking into potential strategic partners and will decide on the best possible recapitalisation model by year’s end,” Butković commented. “Then we will launch a public tender. Based on the government’s decision, we will select a strategic partner by the end of June 2020. The focus is currently on finding an investor from the aviation sector, but we are not insisting on it. Different sale models foresee interest from different types of investors. Interest has certainly been shown.”

The Croatian government has set up a multi-member, inter-agency committee whose main task is to seek out potential investors for Croatia Airlines, while a consortium made of the Privredna banka Zagreb and Germany’s DVB Bank are acting as its privatisation advisors.

victoria@aviationnews-online.com
By victoria@aviationnews-online.com November 11, 2019 12:20