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Slovenian court launches bankruptcy proceedings against Adria Airways

Author Iskra Pavlova
Slovenian court launches bankruptcy proceedings against Adria Airways Adria Airways, Photo: Bobo

LJUBLJANA (Slovenia), October 4 (SeeNews) - The commercial court in the Slovenian city of Kranj said it has launched bankruptcy proceedings at Adria Airways, acting on a motion filed by the airline's management.

The court opened the proceedings on October 2, appointing Janez Pustaticnik as bankruptcy receiver, it said in a statement earlier this week.

Creditors should declare their claims against Adria Airways by January 3, 2020, the statement said.

The troubled air carrier suspended flights in the last week of September over lack of funds to run its daily operations.

The government has refused to provide any financial aid, saying the financial gap in Adria Airways' accounts was bigger than expected and it had no intention to help out the company under the current management of German-owned fund 4K Invest.

4K Invest via its wholly-owned subsidiary AA International Aviation Holding GmbH bought the airline in 2016 from Slovenian sovereign holding company SDH, which is coordinating the privatisation process in the country.

Following the shutdown of Adria Airways' operations, Brussels Airlines said earlier this week it will start operating six weekly flights between the Belgium capital city and Ljubljana from November 4.

Local news agency STA reported on Wednesday that Germany's Lufthansa and its subsidiary Swiss will introduce flights linking Ljubljana with Frankfurt, Munich and Zurich in their winter schedules.

Brussels Airlines is also part of Lufthansa's group.