Croatia Airlines (CA) said on Friday that it had chosen a consortium consisting of Privredna Banka Zagreb and DVB Bank as its financial consultant in elaborating a model for CA's recapitalisation and finding a strategic partner for recapitalisation.
In September 2018, a tender was published to procure financial consultancy services in elaborating a model for CA's recapitalisation and selection of the strategic partner.
Under the national reform programme for 2019 and the national reform programme for 2018, the company's further development and strengthening of its competitiveness on the air transport market can be ensured only by a quality strategic partnership, which would include the expansion of the company's transport network and an increase in its market share and its recapitalisation.
On 21 February 2019 the government decided to initiate a procedure to find an experienced air transport partner for CA's recapitalisation and formed a commission for that purpose.
The final decision on the strategic partner will be made by the government at the commission's proposal.