Adria Airways being investigated by European Commission

Today, on 20 November 2012, Adria Airways was unofficially informed that the European Commission has initiated an investigation procedure into the state’s measures for the benefit of the company.

Today, on 20 November 2012, Adira Airways was unofficially informed that the European Commission has opened an investigation procedure into the state’s measures for the benefit of the company from 2007 to 2011. As we have been in regular contact with representatives of the Republic of Slovenia in the recent period concerning this matter and indirectly with the European Commission, today’s decision comes as no surprise to the company. We would like to stress that it is in the interest of Adria Airways to prove that all the measures so far were carried out in accordance with the applicable legislation.

Adria Airways believes that the capital increase between 2007 and 2011 and the sale of shares of the subsidiary Adria Airways Tehnika d.d. do not represent state aid as all the investments met the criteria of the Market Economy Investor Principle (MEIP).

Throughout the entire investigation procedure, which the company estimates will take more than a year, Adria Airways will provide unlimited aid and support to those involved in order to prove the legitimacy of the measures being investigated.