Slovenia expects bankruptcy of Adria Airways

A Adria Airways Airbus A319-111 prepares to take off at the Frankfurt aiport, Frankfurt, Germany, 25 May 2018. [Mauritz Antin/EPA/EFE]

The bankruptcy of Adria Airways seems the only possible scenario since the Slovenia-based airline has cancelled most of its flights for nearly a week, economy minister Zdravko Pocivalsek said on Monday (30 September).

Later on Monday Radio Slovenia reported that Adria had filed for bankruptcy, citing unofficial sources.

Adria, which has around 500 employees and is owned by German investment firm 4K Invest, was not available for a comment.

All Monday and Tuesday flights were cancelled, according to the Ljubljana airport timetable. Adria has cancelled more than 400 flights affecting over 15,000 passengers.

Pocivalsek said the government was considering establishing a new airline company to improve Slovenia’s international connections. Adria’s collapse was very damaging to Slovenia’s economy and tourism industry, the minister said.

Officials were talking to Germany’s Lufthansa and Fraport, which owns Ljubljana airport, about transferring half of Adria’s flights, Pocivalsek said.

Slovenia’s Civil Aviation Agency last week gave Adria until 2 October to present a financial plan in order to keep its operating license.

Slovenia sold Adria to 4K Invest in 2016. The company has since sold all of its planes and is now flying to several European destinations on leased aircraft. According to TV Slovenia and other media, Adria has debt of around €90 million.

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