The Slovenia Times

Adria Supervisors Resign


The supervisory board first dismissed Boštjančič on Monday and appointed former Adria Airways commercial director Tomaž Kostanjšek as his successor.

However, the supervisors later established that "they failed to take into account the legal aspects of the role of the chairman of the flag carrier", the company said in a press release on Tuesday.

Under the company's statute, the chairman is also the responsible head of civil aviation, who possesses all permits issued by the Civil Aviation Agency, the press release adds.

This prompted Može to resign irrevocably, after which the remaining members of the supervisory board annulled the dismissal of Boštjančič and the appointment of Kostanjšek.

After the session, Tadej Krašovec, Silva Rogelj and Darja Mataj also resigned as supervisors, with Sergej Goriup and Tone Pekolj remaining the only members of the supervisory board.

Boštjančič, who was appointed the company's executive director in January 2011 and later chairman when the company returned to two-tier management in December 2011, thus remains at the helm of the airline.

Može was rooting for Boštjančič's dismissal because his previous position as supervisor of bankrupt builder Vegrad prevents the flag carrier from entering public procurement under the new regulation from March 2011.

The regulation, which has been subject to constitutional review, prohibits companies with managers who have served in the last two years in managerial or supervisory positions at companies in bankruptcy or court-mandated debt restructuring to apply in public calls for tenders.

The flag carrier was thus unable to extend its contract with the government for flights to Brussels.

Adria Airways finished its financial restructuring last year with a successful capital injection in September 2011 and is now undergoing restructuring.

The airline's business results for last year have not yet been revealed, but the operating loss is expected to be around the planned EUR 11m. The company is to break even in 2013.

Like many other European airlines, Adria Airways is facing major problems due to high fuel prices.


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