LJUBLJANA (Slovenia), September 26 (SeeNews) – Slovenia's flag carrier Adria Airways said it has extended the suspension of all flights on September 26 and 27, except connections to and from Germany’s Frankfurt, while it continues to search for potential investors and creditors
Adria Airways has discontinued its flights since September 24 for lack of funds to run its daily operations.
“Adria Airways is still leading active discussions with potential new owners and major creditors and remains dedicated to reaching a positive solution for all,” it said in a press release late on Wednesday.
On Monday, US leasing firm AeroCenture terminated the leases of two Bombardier CRJ900s in Adria's fleet due to the accumulation of substantial payment defaults by the airline under its leases with the company.
"At the same time, the company gave 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 27th, then this last remaining lease contract will be immediately terminated," AeroCentury said, adding that it intends to regain possession of these three aircraft as quickly as possible and prepare the aircraft for lease or sale.
"On September 20th, Adria returned a fourth CRJ aircraft that was leased by the company to Adria and the lease was terminated," the US leasing firm noted.
Last week, Slovenia's Civil Aviation Agency (CAA) banned Adria from using another two Bombardier type CRJ900 planes after their owner, Dublin-based Trident Aviation Leasing Service, unilaterally terminated its lease agreement with Adria Airways and the latter was deleted from Slovenia's aircraft registry as a user of these planes.
Earlier this month, CAA began a check of Adria Airways' operations and financial performance causing fears that the airline's operational licence may be withdrawn. Its findings will be known by the end of October.
Adria's financial statements in the past three years might have been manipulated to cover up its loss and the growing need of fresh capital, according to earlier media reports.
German-owned fund 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.