Rastoder Acquires Adria Airways for EUR45,000 

Adria Airways (Shutterstock)

Slovenian company Air Adriatic, owned by businessman Izet Rastoder, has acquired Adria Airways for EUR45,000. The banana importer and seller, as well as real estate developer, set up Air Adriatic just days following Adria’s collapse in late September 2019. 

Rastoder previously said he planned to use Adria’s Air Operator’s Certificate (AOC) to develop an airline in the private aviation sector and was in the process of acquiring two private jets. 

However, the Montenegrin-born businessman, who moved to Ljubljana in 1986, has also considered establishing a low-cost carrier based in Ljubljana. 

Three companies participated in the auction. In addition to Air Adriatic, they included Komforia, a Croatian business which is also registered in Slovenia, as well as Deal.Aero, a newly established company owned by former Adria Airways pilot Dejan Slodej. 

All parties involved paid EUR4,500 to take part in the auction. Despite a highly publicized plan drafted by Russian investors to relaunch Adria with an all-Sukhoi Superjet 100 fleet, they did not participate in the sales process. 

Adria’s assets have been sold off as a whole and they include the AOC, as well as various manuals, including those for operations, training, maintenance, security, weather, passenger handling and cargo handling. The carrier’s AOC has been suspended until September 30, 2020, however, it will be reinstated once Air Adriatic fulfills certain obligations set by the Slovenian Civil Aviation Agency, including the possession of operational aircraft. 

Rastoder’s company will also have to take on a number of obligations. Among them is the amendment of any discrepancies that arose following the revocation of the airline’s AOC and the launch of bankruptcy proceedings. A Slovenian AOC gives its holder rights to maintain commercial services from Slovenia and other EU member states.