- More than 15,000 passengers are affected due to cancelling scheduled flights
- Government declines to invest €28 million to save its flag carrier
September ended being a dreadful month for all European airlines, following last week’s demise of Thomas Cook, the national airline of Slovenia has begun bankruptcy.
Adria Airways is owned by German investment firm 4KAdria and its a member of the Star Alliance network.
Adria Airways announced on Monday that it had filed for bankruptcy at Kranj district court, due to government refuse to invest €28 million to bailout its national airline. The court has given a three-day statutory period within which it shall decide on the opening of bankruptcy proceedings
The company also announced that it will cancel all scheduled flights due to initiation of bankruptcy proceedings.
So far Adria has cancelled more than 400 flights, with the decision affecting more than 15,000 passengers, according to Reuters.
Last week, Slovenia’s Civil Aviation Agency have given Adria seven days to present a financial restructuring plan.
Slovenia’s Civil Aviation Agency also stated that Adria’s licence had been cancelled and that all airline planes had been grounded.
For the few days the Adria Airways had been “intensively searching solutions” to its severe financial problems.
Slovenia’s Economy Minister Zdravko Pocivalsek officially stated that Adria’s losses were higher than he anticipated.
He also said that Slovenia might set up a new national carrier in the wake of Adria’s demise.
“Slovenia’s government intends to launch a new airline in future to improve the country’s international connections.”
Its alliance partner Lufthansa had been operating flights between the Slovenian capital Ljubljana and its hub in Frankfurt. A Lufthansa spokesperson said it would continue to organise flights to cover connections that Adria was flying for it, though a long-term plan was not in place.
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