Slovenia-based Adria Airways and Croatia flag carrier Croatia Airlines have decided to freeze plans for privatization this summer.

Adria Airways will delay its privatization process until after the country’s elections July 13. The project is expected to resume when a new government is elected and installed.

Croatia Airlines has put its privatization plans on hold to conduct a thorough analysis of the aviation market to identify potential investors before resuming its privatization process, several local media outlets have reported. Nevertheless, the search for a strategic partner remains difficult.

The Croatian government had planned to resume the privatization process over the summer following a failed attempt last year. Croatian Minister of Sea, Transport and Infrastructure Sinisa Hajdas Doncic has said the government cannot allow Croatia Airlines to be purchased by a predator, which would in turn destroy the company. He said the carrier needs a strategic partner, not a predator. “Croatia Airlines needs to consolidate its operations and expand throughout the region,” the Minister said.

The Star Alliance member posted an annual profit last year, but passenger numbers have weakened due to increased competition from low-cost carriers at its Zagreb hub.

In the first quarter, Croatia Airlines transported 292,523 passengers, down 6.5% year-over-year. The carrier continues to restructure its network and operates two AirbusA320s, four A319s and six Bombardier Dash 8Q400s.

Adria Airways’ restructuring process has been showing positive signs. First-quarter passenger numbers are up 10% to 188,494 year-over-year. The carrier is expecting a full-year net profit of €2.7 million ($3.7 million) compared to a €3.1 million loss for 2013.

Adria Airways operates one Airbus A320, two A319s, two Bombardier CRJ200LRs and six CRJ 900LRs.