Adria Shareholders Approve Capital Hike

22. 09. 2011

Adria Shareholders Approve Capital Hike


The decision taken at the shareholders' meeting in Brnik had been aligned with the government's decision earlier today and an agreement with creditor banks.

But for the decisions to be implemented, agreement will need to be reached with the trade unions by 30 September.

 

 

Negotiations on a new collective bargaining agreement are ongoing. The company's executive director Robert Vuga said the talks had been constructive and he was confident an agreement would be reached.

"It would really be odd if the employees buried the company now that we are so close to a long-term solution for Adria," he said.

 

The shareholders also endorsed the proposal by the state-run PDP corporation for the auditing form BDO Revizija to pore over 17 Adria's transactions in the past five years.

 

The audit will focus on the construction of an office building and a third aircraft shed, contracts with customers on benefits, stocks policy, consulting services, wage policy, economic viability of aircraft acquisition and decisions on the introduction and scrapping of individual routes.

 

SOURCE: The Slovenia Times

 

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