The AZTN approved state aid for the restructuring to the amount of HRK 1.18 billion as contained in the restructuring programme.
This recapitalisation will consist of a debt conversion into part-ownership based on Finance Ministry protested guarantees in the amount of HRK 1.02 billion, a debt conversion into part-ownership based on unpaid liabilities to Zagreb Airport in the amount of HRK 46 million, and a Maritime Affairs, Transport and Infrastructure Ministry for public economic interest services provided in 2012 in the amount of HRK 115 million.
The AZTN assessed that the restructuring programme, provided its measures are implemented, envisages a complete change in the model of doing business at the end of the restructuring period, saying it contains convincing evidence of long term market sustainability which will enable the airline to cover its costs with its own funds.
(EUR 1 = HRK 7.48)