The only Slovenian company has had almost none of its flights since last week due to a lack of liquidity.
Adria Airways, the only Slovenian airline to experience financial difficulties for several weeks, filed for bankruptcy on Monday, September 30, as it could not find an investor. “Adria Airways filed a bankruptcy request Monday” A commercial court in Kran, Slovenia, which has three days to make a decision, said in a statement posted on the airline’s website.
Following this announcement, the Slovenian Civil Aviation Authority (CAA) revoked the company's license, which is no longer allowed to fly. Adria Airways has had no flights since last week due to lack of money. Numerous negotiations over the past few days have not found an investor interested in continuing the activities of this company serving Europe from this country with a population of two million people.
The Slovenian state sold Adria Airways in 2016 to the German investment fund 4K, investing 50 million euros. But since then, the company continued to lose money, and analysts considered bankruptcy inevitable. The difficulties of a Slovenian company with about 500 employees arise when some other European companies are in turmoil, such as French XL Airways and Aigle Azur.