Slovenia sells Adria Airways for 100,000 euros

19th January 2016, Comments 0 comments

Slovenia has signed a deal to sell a 91.6-percent stake in the country's financially stricken flag carrier Adria Airways to German investment fund 4K for 100,000 euros ($109,010), officials said Tuesday.

The sale, which will see the government and 4K inject 4.1 million euros into the firm first, is part of a privatisation and reform programme launched by the eurozone country in 2013 to avoid needing a bailout.

The transaction will be carried out in the "following few months" and is cheaper than a "theoretical bankruptcy", state holding company Slovenian Sovereign Holding (SDH) said.

In 2011 the Slovenian government injected 50 million euros into the airline founded in 1951, which today has 11 aircraft flying to 17 cities, mostly in the western Balkans and northern Europe.

© 2016 AFP

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