Former Adria CEOs under investigation
NEWS FLASH
The last two CEOs of Slovenia’s former flag carrier Adria Airways are under investigation on suspicion of committing two criminal offences, as well fraud by abuse of position, the Slovenian public broadcaster RTV SLO reports. Arno Schuster was the first to head the Slovenian carrier following its takeover by the German turnaround fund 4K Invest in 2016. He resigned from his post in 2018 for personal reasons and was replaced by Holger Kowarsch until the company’s bankruptcy last year. Last week, the National Bureau of Investigation conducted house searches in the Kranj and Ljubljana areas in connection to Adria Airways’ collapse, noting that a pre-trial investigation is currently being conducted against the two foreign nationals.
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