Adria Airways today announced that Dr. Arno Schuster will step down from his role as CEO of Adria Airways and will remain a member of management board until end of April 2018. His successor will be Holger Kowarsch, who has been appointed as of February 15, 2018.
Following the privatization of Adria Airways in 2016, Dr. Schuster led the transition of the formerly state-owned company into a successful commercial airline. Adria Airways has been repositioned under the new management as a leading regional carrier in the Balkans, connecting Slovenia to rest of Europe and offering attractive connections via Ljubljana. Arno Schuster created a sustainable cost basis, grew the scheduled services by 14 percent and positioned the company as a leading provider of ACMI services to other airlines.
Arno Schuster will be succeeded by Holger Kowarsch, a partner of Adria Airways’ shareholder 4K Invest. He has over 20 years of senior management experience and has been responsible for the oversight of Adria Airways since 4K Invest took the company over two years ago. Under the new management Adria Airways will continue to expand its network and remain a trustworthy and reliable partner within the Star Alliance network and beyond.
Markus Zöllner from 4K Invest, Adria Airways’ owners, says: “We want to thank Arno Schuster for his excellent work and the tremendous value he brought to Adria Airways. His leadership and strategic vision were essential for the company’s return to sustained growth. We understand he wants to spend more time with his young family in his home town Vienna. Holger Kowarsch is the perfect successor; he will focus on further growth and network expansion.”