Former Adria CEO to become Finance Minister
NEWS FLASH
The Former CEO of the defunct Slovenian national carrier, Adria Airways, is set to become the country’s new Finance Minister. The fifty-year-old Klemen Boštjančič led Adria in 2011 and 2012. Mr Boštjančić implemented wide-scale cost cutting measures at the airline, which stabilised the carrier’s finances. However, it came at a cost, with the company diminishing its route network, resulting in a major plunge in passenger numbers. In 2012 the carrier handled under a million travellers for the first time in seven years. The former CEO was praised for securing bank loans and government handouts for Adria. Mr Boštjančić pushed for the airline’s privatisation and said that national carriers from the former Yugoslavia should merge if the Slovenian airline failed to find a buyer. Adria was eventually privatised in 2016, which ultimately sealed its fate.
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