New Adria Airways CEO announces plans to revive the carrier

Adria Airways announced the appointment of Klemen Botjani as the carrier's new CEO, replacing Tadej Tufek who resigned on the weekend following revelations that the carrier is facing financial challenges (EX-YU Aviation News/Slovenia Times, 19-Jan-2011). Another Executive Director, Marjan Ravnikar, has also tendered his resignation among pressure from creditors. Mr Botjani is former CEO of the insolvent construction company Vegrad and the former head of the Mineral Council. Mr Botjani stated he is confident that the carrier will survive its current challenges and promised a series of measures, including a network review, to get the airline back on track.

Adria Airways: "The next 6 months are crucial for Adria's survival. We need to change the airline's current business model and secure short term liquidity, otherwise the company will go bankrupt. As soon as you don't pay your suppliers they are in a position to seize your aircraft", Klemen Botjani, CEO. Source: EX-YU Aviation News, 19-Jan-2011.