On Monday, September 30, 2019, Adria Airways 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.
The court has a three-day statutory period within which it shall decide on the opening of bankruptcy proceedings.
The airline was forced to cancel most flights as aircraft leasing firms rapidly repossessed aircraft following the lack of payment of monthly leasing amounts.
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