American investor eyes Adria stake
An unnamed company from the United States is considering becoming Adria Airways’ strategic partner and is currently reviewing the airline’s business. The Slovenian carrier has confirmed the reports, with the outcome of the talks expected within a month. At a press conference in June, Adria noted it needed a strategic partner in order to maintain scheduled services but emphasised that its part-owner, 4K Invest, would stay on. The German turnaround fund previously courted Russia’s Sukhoi Civil Aircraft Company as a potential strategic partner, however, talks between the two sides broke down earlier this year, with each accusing the other over the failed deal.
Adria’s CEO, Holger Kowarsch, said last month, "Adria needs a strategic partner. We had several talks over the past years. I can tell you that at the moment we are in discussions with various partners. I cannot disclose with whom at the moment, but I can promise you that I will give more information as soon as I am able to”. He added, “That does not mean that 4K will leave Adria. 4K believes in Adria and we believe we have a strong future. We will be part of the Adria story together with a strategic partner by our side. But we cannot survive on scheduled flights on our own".
Earlier this month, the carrier said it would seek opportunities outside of Slovenia and focus on becoming a regional airline. The company’s Managing Director, Sven Kukemelk, said, "Adria is no longer a carrier that operates from Ljubljana to European destinations. We are way bigger. We have outside operations, a base in Pristina, services for Lufthansa, Austrian, Luxair, and Swiss. Today, Adria is on a good path to becoming a strong regional player who is embracing, and happy to accept, the challenges of the future... In an essence, this is what a regional carrier has to be. We don't have too many other choices. The Slovenian market is not going to grow and the growth will be somewhere else".
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