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BREAKING NEWS

Charges laid in alleged backdoor privatization

POLICE have launched criminal proceedings in the alleged covert privatization of national carrier Slovak Airlines (SA) by Austrian Airlines (AUA), based on a motion filed by MP Branislav Opaterný of the Free Forum party.

POLICE have launched criminal proceedings in the alleged covert privatization of national carrier Slovak Airlines (SA) by Austrian Airlines (AUA), based on a motion filed by MP Branislav Opaterný of the Free Forum party.

In January last year, AUA gained a 62-percent stake in SA with the agreement of Transport Minister Pavol Prokopovič after guaranteeing a Sk200 million (€5.3 million) loan that SA took to avoid bankruptcy.

AUA then increased SA's basic capital by Sk114.6 million (€3 million), giving them a majority control of SA, the SME daily reported.

According to Opaterný, in countenancing the transaction, Prokopovič damaged state interests.

"They sold state property without a proper cabinet or parliamentary decision," Opaterný said.

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