Slovenia-based Adria Airways has been forced to temporarily suspend operations on all but one of its routes as a consequence of a lack of liquid funds. The announcement comes only a day after the U.K.s Thomas Cook ceased all flights and entered into compulsory liquidation.
The carrier will continue to operate between Ljubljana in Slovenia, and Frankfurt, Germany. Adria Airways has indicated it hopes the suspension will last for no more than two days while it explores solutions with a potential investor. Slovenia media has reported the suspension of flights has affected many thousands of passengers and the current situation has been described as “the biggest upset in Slovenian civil aviation in decades.”
The airline, formerly Slovenia’s flag-carrying airline, was sold to 4K invest in 2016, who subsequently sold all its planes and instead now leases them. Current financial problems saw Adria Airways default on two aircraft leases which have subsequently been repossessed. The decision to suspend flights came after repeated delays and cancellations by the cash-strapped carrier.
