In what is the third attempt at a sale, Adria Airways’ brand is once more on the market. This time, the administrators are asking for a mere 10% of the initial price. The sale of the airline’s Air Operator Certificate and flight school has already been successful.
A mere tenth of initial asking price
If you would like to own the brand of a former flag-carrier, this could be your chance. The bankruptcy administrator of former Slovenian national airline Adria Airways has once more published an invitation for bids on the carrier’s brand name. This is the third attempt at a sale, and the price tag lands at just €10,000 ($12,243).
That sum will buy you three different logos, as well as a whole host of web domains: adria.si, flyadria.si, adria-airways.si, afs.si, adria-airways.com, adria.ba, adria.mk and adriaairways.me.
EX-YU Aviation reports that the airline’s bankruptcy administrator, Janez Pustatičnik, notes that there is interest in the Avia name and brand. However, it seems it was not sufficient for the initial €100,000 asking price, nor for the second unsuccessful attempt set at €50,000.
Mr Pustatičnik has thus far had better luck with Adria Airways’ Air Operator Certificate (AOC). It sold for the asking price of €45,000 at an auction in January 2020, purchased by businessman Izet Rastoder. Mr Rastoder is known as the “banana king” as he is the biggest banana trader in the region and the sixth-largest globally.
AOC and flight school have sold successfully
The Slovenian Civil Aviation Agency has extended the carrier’s AOC for an additional nine months from the intended termination date of September 20th, 2020. It is currently held by a company Mr Rastoder set up in Slovenia following the collapse of Adria, which is called Air Adriatic.
The administrators have also handed over Adria Airways’ flight school for €7,500. The Institute for Constitutional System and Human Rights purchased the school, along with a strategic partner from China. The latter owns 55% of the project. Peter Jambrek, the Institute’s leader who will hold 30%, has said he hopes the school will become the biggest flight school in the world.
New flag-carrier in the wings
Aviation in Slovenia is not exactly booming. Left without a national airline since the collapse of Adria in September 2019, the country’s air connectivity has suffered tremendously. As a result of the current crisis and capacity calibrations due to restrictions and low demand, on November 3rd, there was not a single scheduled aircraft arrival.
However, as we have previously reported, the Slovenian government is in the initial planning stages for a new national airline. The project would be launched together with a private partner under a COVID aid umbrella package called a Recovery and Resilience Plan, supported by EU relief funds. The government has set aside €70 million for the establishment of its new carrier.
How much do you think an airline brand is worth? Would you ever consider buying one? What would you do with it? Let us know in the comments.