Adria Airways temporarily stops flights due to lack of money

Slovenian carrier Adria Airways has announced that it has suspended all today’s and tomorrow’s operations due to a shortage of cash.

As said in the company’s press release, the management had asked for EUR 4 million from the government, but the request was not approved, STA reports.

– The decision to temporarily stop the flights is a consequence of the lack of money that the airline needs for further operations. The company is intensively looking for a solution in cooperation with a potential investor. The aim is to enable Adria Airways to fly again – the company says in its press release. The company has apologized to passengers and partners.

As said, the airline used to be state-owned, but was privatized in 2016 and sold to the German fund 4K Invest.

Since then, it has sold all of its airplanes and leased them, but the media point out that the debt toward the creditors is growing, with some reporting it at EUR 60 million.

Since half of passengers at the Ljubljana airport use Adria’s services, despite the problems, plans are expected to be initiated soon aiming to help solve the problem.

As said, the state of Slovenia can’t save this airline, but has expressed readiness to amend the laws which would enable the subsidizing of key routes.

The operator of the Ljubljana airport also said that it had a plan for emergencies, but has yet to reveal the details.

As the media report, this decision affects several hundred passengers who have booked flights, and the future of the employees at Adria Airways is uncertain as well.

Adria Airways Slovenija

Adria Airways

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