Adria Airways fighting for survival
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 Merlot, 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". Unofficial reports suggest that a third Bombardier CRJ900 jet has been repossessed from the airline. Registered S5-AAL, the aircraft was grounded in Ljubljana since April due to a lack of engines, but has since been repaired and was ferried to Maastricht yesterday.
The Slovenian Prime Minister, Marjan Šarec, said, “The state is unable to help the company since it is privately owned. Furthermore, its balance sheets are so bad that any state aid would amount to throwing money away”. In a more conciliatory tone, the Ministry for Infrastructure noted, “We are very sorry to witness the unfolding situation at Adria Airways but we have no means to assist the company as it has been privately owned since 2016. Minister [for Infrastructure] Alenka Bratušek repeatedly warned that the airline’s sale to the German capital fund was a mistake and that the then government of Slovenia should have found a strategic partner within the aviation industry that would have ensured the long-term existence and development of the carrier”.
The Ministry noted that maintaining Slovenia’s connectivity to key European destinations is its main priority. "Our key concern at the moment is to ensure the maximum security and safety of air operations in the country. In the event that Adria Airways ceases operations, it is our responsibility to ensure Slovenia's connectivity with the outside world, so we have prepared a legislative proposal that will, if necessary, enable subsidies for some airlines". However the ministry warned, “This is a complicated and time-consuming process, which must be approved by the European Commission”.
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