Adria Airways has filed for bankruptcy and has terminated all operations. Facing significant financial pressure in recent times, Adria Airways was forced to make unexpected flight schedule changes. These financial troubles have resulted in unstable operations. The Adra Airways bankruptcy follows Thomas Cook, XL Airways and Aigle Azur that have all recently closed their doors as well.
What happened with Adria Airways?
The airline was founded in 1961 and it was a part of the Star Alliance and a close partner of German airline Lufthansa. Adria was operating several flights for the airline. It even used ‘Miles & More’, the frequent flyer program of the Lufthansa Group. The German airline has not yet given a statement regarding the bankruptcy news.
The Slovenian airline ended most flight operations for what was initially meant to be a temporary two-day period on Monday evening last week. Shortly after, it confirmed that Adria is keeping up flights on one single route, Ljubljana to Frankfurt, which were operated by German charter airline WDL Aviation over the past few days. These have now been canceled as well due to the bankruptcy.
A notice was published on their website on Monday the 30th of September, stating that they had filed a motion for bankruptcy proceedings of the company at the Kranj District Court.
“Bankruptcy proceedings were initiated by the management of the company because of the company’s insolvency and based on the Slovenian Financial Operations, Insolvency Proceedings, and Compulsory Dissolution Act (ZFPPIPP) which obligates the management of a company in the position of Adria Airways to file for bankruptcy proceedings of the company.” They wrote on their website.
The Slovenian Minister of Economic Development said that the only possible scenario out of the situation is the bankruptcy of the airline. Subsidized routes or a new Slovenian flag carrier were outlined as the options to replace the drop in capacity in case of Adria’s bankruptcy.
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About the author: Mila Kostic is a native of Belgrade, Serbia. After majoring in sociology at the Belgrade University she has been working as tutor and coach. Prior to taking on her role at Mighty Travels, she wrote for a video games, fitness, and health lifestyle website. After starting her work with the Mighty Travels team she discovered her passion for travel and travel writing. Now, she is focused on bringing you the newest travel news. In her portfolio here at Mighty Travels, you can find articles on Airline news, hottest credit card deals, tips and tricks on earning miles and much more. You can reach her at [email protected]
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