Wednesday, 25 September 2019

Adria Airways halts almost all flights as aircraft get repossessed and it has a week to save itself

Last-ditch talks are ongoing to save the Slovenia-based airline Adria Airways after it cancelled al flights on Thursday and Friday, following mass disruption to schedules on Tuesday and Wednesday.  Two of the airlines Bombardier CRJ 900s were repossessed by Falko their leasing firm owner, while they are in Munich due to non-payment of lease fees.  

AeroCentury which leases four aircraft to Adria has confirmed that "After many months of working closely with Adria Airways in Slovenia as it worked to improve its financial condition, today the Company gave notice to Adria of the termination of its leases for two CRJ 900 aircraft with immediate effect.".  It also served notice on another CRJ900 in Adria's fleet, warning "If Adria does not cure its payment defaults to the Company by September 27th, then this last remaining lease contract will be immediately terminated."  


The airline has been in financial difficulties for some time, teetering on the brink of bankruptcy as costs rise and profits fall. The Slovenian Civil Aviation Agency has extended a glimmer of hope to the troubled carrier by giving it until October 2nd to produce some sort of financial rescue plan in order to keep its licence. 

“Adria Airways is still leading active discussions with potential new owners and major creditors and remains dedicated in reaching positive solution for all,” said 4K Invest, a German investment fund that largely owns the airline.  

The airline said that despite the majority of its flights being grounded it would maintain a connection to its most important hub of Frankfurt. The Airline plans to operate on both days evening flights on route Ljubljana - Frankfurt - Ljubljana. 

Adria Airways is still leading active discussions with potential new owners and major creditors and remains dedicated to reaching a positive solution for all. The airline still advises its passengers to contact sales offices where tickets were purchased. 

In a statement, it said, "The company deeply regrets that it will continue with disruptions in next two days and apologizes to all its passengers and partners."













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