After many months of working closely with Adria Airways (Adria) in Slovenia a to improve its financial condition, on September 24, AeroCentury gave notice to Adria of the termination of its leases for two CRJ 900 aircraft with immediate effect, due to the accumulation of substantial payment defaults by the airline under its leases with the company.
At the same time, AeroCentury issued a default notice for its last remaining CRJ 900 aircraft on lease to Adria. If Adria does not cure its payment defaults to the company by September 27, then this last remaining lease contract will be immediately terminated. AeroCentury intends to regain possession of these three aircraft as quickly as possible and prepare the aircraft for lease or sale.
On September 20, Adria returned a fourth CRJ aircraft that was leased by the company to Adria and the lease was terminated.
