Adria Airways Files for Bankruptcy

by Daine Taylor
Adria Airways Files for Bankruptcy

The Slovenian flag carrier, Adria Airways, has ceased operations as it files for bankruptcy. Photo: Adria Airways 

Adria Airways, the Slovenian flag carrier and charter service, has ceased operations and filed for bankruptcy, citing financial insolvency. The airline is the latest to collapse following a disturbing trend among European airlines like Thomas Cook and XL Airways.

On Monday, Sept. 30, the company announced in a statement on its website that it will cancel all scheduled flights due to the initiation of bankruptcy proceedings.

“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.” 

Adria Airways had 58 years of experience in charter and scheduled services, connecting Slovenia to numerous European destinations. The majority of Adria Airways’ business was in scheduled flights, while charter flights mostly connected Slovenia with holiday destinations in the Mediterranean.

Its modest fleet consisted of three Airbus A319, nine Bombardier CRJ900, two Bombardier CRJ700ER, and six Saab2000. 

The Prime Minister of Slovenia, Marjan Sarec, hinted at the possibility of a new carrier replacing Adria, but has not reached any decision as of yet. "Although we expect difficulties, the aim is to maintain Slovenia's connection with the world, especially for tourism," said Sarec.

Adria’s shuttering has left a gap in the Star Alliance network, and airlines are scrambling to provide coverage in its place. In fact, Brussels Airlines has already stepped in to help maintain Star Alliance’s connections to the Slovenian capital Ljubljana, just 24 hours after Adria ceased operations.

The Belgian carrier says it will provide service six times a week from Brussels beginning in November, using Airbus A319s configured with 141 seats.

TMR Recommendations
Top Stories
Canada Warns Travelers to Exercise Caution with High-Pressure Timeshare Sales

The Government of Canada reminds travelers to do their homework when considering buying a timeshare in Mexico.

Venice's Tourism Tax Will Start Next Year

In an effort to curtail the effects of overtourism, Venice’s tourism tax will be used to offset the high charges locals pay for public services.

Top 10 Spookiest American Towns to Visit for Halloween

Whether you’re looking for haunted houses, freaky festivals, or other spooky spots, here are the best locations for Halloween travelers.

U.S. to Waive Visa Requirements for Polish Citizens

The move will make it easier for polish travelers to visit the U.S. for business and tourism purposes.

Portugal Sees Record Increase in Visitors from the U.S.

Travelers are expanding beyond the traditional hot spots of Lisbon and the Algarve to explore the Douro Valley in the North, and other less-developed areas like the Azores archipelago.

FAA Announces Plans to Investigate Airline Seat Safety

With airline seats shrinking over the years to accommodate more passengers, the FAA will investigate how small is too small to be considered safe.

News Briefs
Tip of the Day

"I didn’t understand that they could access these amenities through the buying power of these networks they join. I didn’t realize that an agent could open doors that I couldn’t."

Julia Glum

Money Magazine

Daily Top List

Best Hotels in Detroit

  1. Detroit Foundation Hotel
  2. The Townsend Hotel
  3. MGM Grand Detroit
  4. The Royal Park Hotel
  5. The Henry, Autograph Collection

Source: US News

TMR Outlooks