Split Airport rejects Croatia Airlines holding
One of Croatia’s busiest airports, Split, has rejected potential plans to create a holding made up of six of the country’s airports and Croatia Airlines in a bid to recapitalise the national carrier. “Investing in an airline would be too risky. It is not in line with aviation trends in the past forty years and it is questionable whether such action is consistent with European Union regulations”, the General Manager of Split Airport, Lukša Novak, said. He added, “We believe we have given our contribution to the state by self-financing our expansion project and by giving 60% of our profits to our owners”.
Mr Novak said the proposal to form an airport- airline holding has not been made official but that there have been unofficial discussions surrounding the idea. “We discussed it with the Director General of the European Region of the Airports Council International (ACI), Olivier Jankovec. We are already assisting Croatia Airlines the best way we can, through the development of certain routes, particularly during the winter months”, Mr Novak said. Mr Jankovec previously noted that the days when airports subsidised airlines were “long gone”. He added, “I doubt the European Commission would approve for Croatian airports to be rescuing Croatia Airlines, which is in state ownership”.
The airport- airline holding model is expected to be officially proposed by the carrier’s privatisation advisors, which have until the end of the year to present the best possible options for Croatia Airlines. The government has tied the recent 33.7 million euros in state aid it is providing the company with the completion of the privatisation process by June 2020. It previously said various models were being considered and that it would be prepared to sell up to a 70% stake in the company. However, it warned that the state would safeguard its interests in the case of changes to the airline's ownership structure.
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