October 2019: Adria Airways of Slovenia officially bankrupt.

[Stratofreighter]

https://www.exyuaviation.com/2019/09/ad ... vival.html

September 21, 2019

Adria Airways is battling to stay afloat after two of its aircraft were repossessed yesterday,
with the Slovenian government stating that helping the national carrier would amount to “throwing money away”.

In a statement, the 58-year-old airline said, “Adria Airways is facing challenging business conditions,
so the management of the company
is intensively looking for solutions that would enable it to operate with greater stability.

We strive to carry out all of our scheduled flight operations.
Passengers are advised to keep track of current travel information through the Adria Airways website”.

The head of the Slovenian Aviation Agency, Rok Marlot,
warned that other aircraft could also be repossessed by creditors.
“It is difficult to predict what might happen, given that Adria does not own any aircraft.

We are monitoring the situation on an hourly basis".

https://www.exyuaviation.com/2019/09/ad ... vival.html
has more.

https://www.total-slovenia-news.com/bus ... ia-airways

21 September 2019 – The newspaper Večer accuses Adria Airway's German owners, 4K Invest,
of making good money out of the former Slovenian flag carrier,
saying the German "vultures" have squeezed every cent out of the company since they bought it in 2016.

The Miro Cerar government sold flag carrier Adria Airways in January 2016
after the Alenka Bratušek government
put it on a list of 15 companies to be privatised in 2013.

For the German financial fund, which has absolutely no experience in aviation industry, to buy it,
the state had injected Adria with EUR 3 million in taxpayer money.

Then the "experienced" German rescuers of troubled companies, skilled in creative accounting,
squeezed from Adria a few million euros, and nobody knows where they have ended up.

In the same way, it took over Switzerland's Darwin Airline
only to send it into receivership six months later,
a case the Swiss law enforcement is still investigating.

[Jesse_V]

One arrived at Maastricht last friday, and was given a dutch registration.
Aerocentury - Bombardier CRJ-900LR - PH-ADO by Jesse Vervoort, on Flickr

[Stratofreighter]

...well, there is to be no pilots' strike in October and/or November 2019, but things are still not looking good.
Adria has already had to cancel flights last Friday
https://www.aerotelegraph.com/leasingfi ... ys-zurueck

[Stratofreighter]

https://abouttravel.ch/reisebranche/tra ... egroundet/

Adria hat die zwei Bombardier CRJ900 von der irischen Firma Trident Aviation Leasing Service geleast.
Diese ist Teil der Falko-Gruppe, zu der auch Irlands Billigfluggesellschaft Cityjet gehört und die zu den grössten Gläubigern von Adria gehört.
Falko war in den letzten Wochen auch als möglicher Retter der finanziell offenbar angeschlagenen Airline gehandelt worden, schreibt siol.net.

https://www.exyuaviation.com/2019/09/la ... ilots.html

Low cost carrier Lauda is offering Adria Airways pilots a fast-track interview
and assessment process for employment at its bases in Vienna and Palma de Mallorca.

“We understand it is a very difficult time for you and your families.
Lauda has immediate job opportunities in Vienna and Palma for captains and first officers.
We can offer a fast-track assessment process in Dublin and we will move through the applications as soon as possible”,
Lauda’s Chief Pilot, Chris Grube, said.
Applications can be lodged here / https://careers.ryanair.com/search/#sea ... ents=lauda .
Lauda, a wholly owned subsidiary of Ryanair,
boasts a fleet of 21 Airbus A320 aircraft, with a further four on order.

September 23, 2019

https://seenews.com/news/leaseholders-s ... ort-670026

LJUBLJANA (Slovenia), September 23 (SeeNews) -
US leasing firm AeroCenture has asked Slovenia's Civil Aviation Agency (CAA)
to cancel the registration of a Bombardier CRJ900 plane
used by troubled Adria Airways, local media reported on Monday.

AeroCenture submitted its request on Monday
after the plane was transferred to Maastricht on Friday
upon the request of its owner, news agency Siol.net reported.

According to the report,
another plane owned by AeroCenture has been parked at the Ljubljana airport
since Saturday and might follow the same fate.

The report comes after CAA banned last week
Adria from using another two Bombardier type CRJ900 planes after their owner,
Dublin-based Trident Aviation Leasing Service,
unilaterally terminated its lease agreement with Adria Airways and
the latter was deleted from Slovenia's aircraft registry
as a user of these planes, CAA has said.

The decision led to delays and cancellations of a number of Adria Airways flights last week.

Adria Airways officials told state news agency STA on Monday
that they have been in very intensive talks with an unnamed strategic partner
on stabilising the company's operations.

Earlier this month, CAA began a check of Adria Airways' operations and financial performance
causing fears that the airline's operational licence may be withdrawn.
Its findings will be known by the end of October 2019.

Adria's financial statements in the past three years might have been manipulated
to cover up its loss and the growing need of fresh capital,
according to earlier media reports.

German-owned fund 4K Invest via its wholly-owned subsidiary AA International Aviation Holding GmbH
bought the airline in 2016 from Slovenian sovereign holding company SDH,
which is coordinating the privatisation process in the country.

The new management has sold all Adria planes to leasing companies and then started using them via leasehold contracts.
As a result, the company is now faced with losing its fleet over unpaid debts to leaseholders.

https://seenews.com/news/leaseholders-s ... ort-670026

https://atwonline.com/leasing/adria-air ... operations

Adria Airways ‘intensively looking’ to stabilize operations

Sep 23, 2019

Slovenian carrier Adria Airways has had two Bombardier CRJ900s recalled by their lessor
and is “intensively looking for solutions” to stabilize operations.

“Adria Airways is facing challenging business conditions,
so the management of the company is intensively looking for solutions that would enable the company to operate more stable [sic].

We strive to carry out all flight operations in the scheduled timetable.
Passengers are advised to keep track of current travel information on the Adria Airways website,”
Adria Airways said in a statement.

The comments followed a Sept. 19 Slovenian CAA confirmation
that Adria has been blocked from operating two CRJ900s, registered S5-AAU and S5-AAV.

The Slovenian CAA said Trident Aviation Leasing Service had terminated its lease agreement with Adria and
revoked the airline’s rights to use the aircraft on the Slovenian registry.

Following the decision, Adria Airways called a meeting with the CAA’s management and inspectors.

“During the meeting, the representatives of Adria Airways informed the agency [CAA] of the current situation
and developments in the company.
Subsequently, they gave a written assurance
that their flight operations with other aircraft entered on the air operator’s certificate are safe,” the Slovenian CAA said,
adding that it will continue to independently observe the airline.

On Sept. 17, Adria said it had reached a new collective agreement with the Slovenian Airline Pilots’ Association,
averting strike action that had been planned for Sept. 18, 20 and 30, and Oct. 2.

“Signing of the agreement means stabilization of working conditions in the company
and continued focus of the management on the stability of business
and providing of services,” the airline said Sept. 17.

Adria was previously under Slovenian CAA supervision and, earlier this year,
the airline canceled its memorandum of understanding for 15 Sukhoi Superjets.

[Stratofreighter]

https://www.aviation24.be/airlines/adri ... nal-funds/

Adria Airways suspends flights on Tuesday and Wednesday and is desperately looking for additional funds

...and
https://www.aviation24.be/airlines/adri ... nal-funds/
has much more...

[Stratofreighter]

...it's over
https://www.aviation24.be/airlines/adri ... e-company/

On Monday 30 September 2019,
Adria Airways filed a motion for bankruptcy proceedings of the company at the Kranj District Court.

...more thru
https://www.aviation24.be/airlines/adri ... e-company/