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Slovenia: bankruptcy proceeding against Adria Airways

Creditors have three months to file claims

02 October, 15:45
(ANSA) - LJUBLJANA, OCTOBER 2 - No last-minute rescue for Adria Airways, which today formally ended its operations. This morning, the district court of Kranj initiated bankruptcy proceedings against the Slovenian airline. The company's management filed for bankruptcy on Monday.

The Kranj court announced on the portal of the business register (Ajpes, Agency for Public Evidence and Services) that creditors have three months to file compensation claims. The airline, sold by the State in 2016 to the German fund 4K Invest, had long been in financial difficulty.

The revision of the accounting books last week revealed a debt of 90 million euros and the need for a loan of 30 million to continue operations. Left without its fleet and in debt to several suppliers, the company had also difficulty in paying salaries to its 558 employees in the last few months.

The government is worried about the country's connections with the rest of the world, both for the possible repercussions on tourist flows and given the country's rotating presidency of the European Union in 2021. (ANSA).

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