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Croatia Airlines Need Investment Or Face Bankruptcy

Croatia’s Transport Minister Sinisa Hajdas Doncic has made a statement saying that unless the nations’ national carrier Croatia Airlines invests around 400 million kuna (50 million euros) in the company’s restructuring programme, it will face bankruptcy, reported daily newspaper Jutarnji list.

 

“The countries Competition Agency has decided that Croatia Airlines must contribute to the restructuring plan of up to 50% of the total that the state has invested in the recapitalization of the company,” said the Minister, before adding, “We have two options. Sell one or two planes and land owned by the company or find a strategic partner who would buy between 25 and 30 percent ownership in Croatia Airlines. If this fails, the company is destined to go bankrupt, and we want to avoid that because it would have serious consequences for the Croatian economy, ” concluded Hajdas Doncic.

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