Slovenia’s Adria Airways Goes Bankrupt

Slovenia’s Adria Airways Goes Bankrupt

Adria Airways filed for bankruptcy on 30 September and cancelled all flights. More than 15 thousand passengers were affected by the cancellation of about 400 flights, including flights to and from Tirana.

The former national airline of Slovenia was founded in Ljubjana in 1961 and later bought by the German company 4K Invest in 2016.

In their statement yesterday the company said they had requested with the court to start bankruptcy procedures due to “lack of liquidity”.

The demise of Adria Airways follows that of three other European carriers – Thomas Cook Airline, XL Airways and Aigle Azur. They all filed for bankruptcy in September 2019. The high competition, growth of low-cost airless and the rise in fuel prices are thought to be the main reasons.

4K Invest sold all Adria Airways planes when they purchased it, and it has been flying on leased aircraft to Tirana, Pristina, Frankfurt, Munich, Prague and Vienna.

Slovenian media reported Adria Airways owed €90 million in debts to third parties.

Lufthansa is temporarily covering connections Adria was flying before bankruptcy.

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