Adria Airways Files for Bankruptcy, all Flights Cancelled

Adria Airways Files for Bankruptcy, all Flights Cancelled

TIRANA, October 1

Former national Slovenian airline Adria Airways that operated scheduled flights from Tirana to Ljubljana vice-versa filed for bankruptcy on Monday at the District Court of Kranj. Hence, the company will cancel all scheduled flights.

“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,” the company explained in its official statement.

On its part, the court has to decide on the opening of the bankruptcy proceedings within three days. The airline was acquired by 4K Invest fund in 2016.

It was last week when the company first announced that it would suspend all flights on 24-25 September from and to all its bases in Ljubljana, Pristina, and Tirana, due to financial issues as it was looking for a potential investor.

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Source: Adria.si

Photo credit: flickr.com

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