Adria Airways names adviser for privatisation

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Slovenian flag-carrier Adria Airways has named Swiss-based Barons Financial Services as its financial adviser as the airline seeks investors or strategic partners.

Star Alliance member Adria, based in Ljubljana, is state-controlled but is intending to undergo privatisation.

Barons Financial Services has served as an adviser to several airline transactions, including investment group Intro's acquisition of German low-cost operator DBA from British Airways.

Adria operates a fleet of 13 aircraft comprising three Airbus A320-family jets and 10 Bombardier CRJs, and serves some 18 European destinations.