It was announced this afternoon that Adria has filed for bankruptcy. The final flight was JP3925, CDG-LJU.
Yep, it’s definitely that time of year again.
Almost completely under the radar in the UK at least, Adria Airways has suspended operations.
This comes on the same day that Thomas Cook ceased operations. It also comes days after XL Airways France and the impending bankruptcy of Aigile Azur.
The Slovenian carrier had a pair of CRJ900 aircraft repossessed in recent days, due to outstanding financed owed to the lessor.
Adria had appealed so the Slovenian government for a bail out, however the prime minister said:
“The state is unable to help the company since it is privately owned. Furthermore, its balance sheets are so bad that any state aid would amount to throwing money away”
As the entire Adria fleet is leased, the airline faces additional struggles with keeping up repayments on its fleet and lessors repossessing their aircraft when payments weren’t made.
The airline operated thirteen aircraft, consisting of three Airbus A319’s and ten Bombardier CRJ’s.
Founded in 1958, the airline was privatised in 2016. In 2017, it purchased Darwin Airline who had been operating under the Etihad Regional banner. However, by December that year the airline had ceased operations.
Adria had been one of the earlier members of Star Alliance, having joined in November 2004.
Whilst the airline has only suspended operations as opposed to going out of business, the track record of airlines returning to the skies after such a move isn’t great. Mexicana suspended operations way back in 2010, but have yet to return to the skies…