AIRLINES: Transfer Zagreb Airport Management Postponed

The transfer of management of the Zagreb Airport (ZLZ) to the French consortium ZAIC, which consists of the construction company Bouygues and Paris airports operator Aeroports de Paris, was postponed for the second time because the French-led consortium did not secure the €365 million necessary for the construction of a new passenger terminal.

According to the concession agreement signed last year with the Croatian government, the French company should have already assumed control over the management of the ZLZ in mid-April, but the acquisition was postponed for the same reason.

The main problem for ZAIC is securing a €120 million from the European Investment Bank (EIB). Even though the loan was formally approved by the EIB, the bank seeks a guarantee from the government that it will repay the loan or find another concessionaire if ZAIC goes bankrupt. On Saturday, the Croatian government declared that it will provide a guarantee for the loan and, thus, meet the demands of the EIB. The new deadline for completing the transfer of management is expected to be by the end of July with realistic analysts expecting the transfer to occur in the autumn…

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