Airlines and airports across the world are among those who have filed claims against the bankrupt Slovenian national carrier Adria Airways as its bankruptcy proceedings continue to drag on. Both Air Serbia and Croatia Airlines are among those seeking compensation from the defunct company, as well as Croatia’s Trade Air, Slovenia’s Solinair, and Montenegro Airlines, with the latter itself having gone into bankruptcy. A total of 150.869.616 euros in claims have been filed against the former Slovenian national airline. The former flag carrier’s bankruptcy administrator has recognised 87.9 million of the filed claims while the remaining 63 million euros are being contested, some of which are currently in court. However, the funds being requested by airlines and airports from across the world are not in dispute.
Airlines which have filed claims against Adria are mostly those that have worked with the carrier as part of their Star Alliance partnership. They include Lufthansa, Austrian Airlines, the now-bankrupt Montenegro Airlines, Aeromexico, Shenzhen Airlines, Brussels Airlines, United, EVA Air, Air China, TAP Air Portugal, Ethiopian Airlines, Turkish Airlines, Thai Airways, Swiss, Singapore Airlines, LOT Polish Airlines, SAS, South African Airways, Egypt Air, Air New Zealand, Trade Air, Solinair, Air Serbia and Croatia Airlines. The Serbian national carrier is seeking 22.236 euros in compensation, its Croatian counterpart 48.461 euros, Trade Air 47.590 euros, while Solinair is asking for 114.054 euros. However, these are among the smallest claims. Turkish Airlines aims to collect 121.912 euros, United 202.663 euros, while Lufthansa is seeking 6.607.074 euros. In addition, Lufthansa’s subsidiaries and affiliated companies, such as Lufthansa Technik, Lufthansa Industry Solutions, Lufthansa Aviation Training and Lufthansa Systems are jointly owed almost three million euros.
Over a dozen airports are also seeking funds from the bankrupt airline. Among them are the airports in Ljubljana, Belgrade, Pristina, Tirana, Manchester, Brussels, Copenhagen, Zurich, Berlin, London Southend, Antalya, Lugano, Trieste, Moscow Sheremetyevo, Sofia, Podgorica, Tivat and Brač. Claims have also been filed by various service providers, aircraft leasing companies, tour operators and hotels. The Serbia and Montenegro Air Traffic Services Agency (SMATSA) is seeking 81.642 euros, although the bankruptcy administrator has recognised only 40.953 euros, rejecting the remaining amount due to a lack of relevant evidence. Bosnia and Herzegovina’s air service provider BHANSA is claiming 93.720 euros, while Obzor Putovanja, a tour operator wholly owned by Croatia Airlines, is seeking just over a thousand euros. Requests for financial compensation have been lodged from all former Yugoslav republics. Due to the numerous claims, and a number of ongoing court cases for the contested funds, the bankruptcy process will last at least until 2024. The administrator is hoping to raise the funds to settle the debts through the sale of Adria Airways’ remaining assets. So far, it has successfully sold Adria’s Air Operator’s Certificate, flight school, brand name, website, social media channels, headquarters, uniforms and artworks. However, the funds are nowhere near enough to cover the amount being claimed.
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What a MESS
ReplyDeleteOver forty airlines and airports demanding funds from Adria? What an excellent advertisement for Slovenia Adria Airways truly was. Disappointing to its very end.
DeleteAnd they owe me 17.85 EUR for my shoes that I left on the plane while leaving in my white socks during the emergency...
DeleteAnd then some people think how the government should have stepped in, paid all this debt and saved Adria. It just wasn’t worth it.
ReplyDeleteAdria is needed now more than ever.
DeleteThat's debatable. A new airline isn't needed to improve Ljubljana Airport's statistics. What is needed is a proactive management at LJU that will attract airlines and improve frequencies. They just have to do their job.
DeleteMaybe I would agree with you when it comes to attracting new airlines to LJU. But Slovenia still has even bigger issue with number of frequencies on existing routes and totally unacceptable timings on most flights. And that does not have much with LJU management...
DeleteIt absolutely wasn’t worth it. It was a sham that it went on for as long as it had.
Deletewasn't worth what? to save JP? At the moment when 4k ruined them of course not, but before business was in the limit of normal limits
DeleteLJU airport, Slovenia control and Petrol all looked away when Adria collectively owed them more than 20 million €. None of these companies wanted to take the charge and claim the funds as they knew it would bankrupt Adria. All for the "national interest" and "good connectivity". Mind explaining how this is "in the normal limits"?
DeleteI am more than happy it's gone. If anyone wants another Adria, they are free to pay for it. OUT OF THEIR OWN POCKET. Nothing wrong with that.
DeleteAnd everyone who wants new railways, hospitals, highways... should pay for it. Why should I finance a new road to your house? Pay it by yourself.
Delete+1 for anon 11:39!
Deleteand not only that, unfortunately people don't realize that in current situation much less money goes to state economy due to lack of connectivity.
for Anon 10:58: Most of those cost came after the sale. Regardless to that, at that time, Petrol had most expensive kerosene so JP tried to full their tanks on other airports. Same goes for Airport.
But ok now all carriers are paying them, ask them what was better for them? Day of full flights or empty airports as we are seeing it now.
How did it go so wrong?
ReplyDeleteNow we can see there was no way of Slovenia saving adria... Shame
Decades of mismanagement. Adria was always on the brink of collapse. Even during Yugoslav times.
DeleteAnd who wasn't (or isn't)? Everyone is burning state's money, but in return they get much more. Unfortunately a lot of people does not understand that.
DeleteAA was slovenian DB project. Never made any profit. Now again you are just small german province. Lot of charters but that is all.
DeleteDeutsche Bahn never had anything to do with Adria ☺
DeleteWhat happens if they don’t raise enough money from the sale of Adria’s property. And who gets priority in these payments.
ReplyDeleteDeutsche cartel will get priority.
DeletePriority was given to former Adria employees who didn't get their wages and social security payments.
DeleteAren't workers in Slovenia protected in the event of bankruptcy? Doesn't the state pay the owed wages?
DeleteMaybe the liquidator can organise a crowdfunding campaign to get the money he needs? :)
DeleteBravo 4K Invest!
ReplyDeleteA reminder to do some due diligence before selling company to anyone.
DeleteI'm waiting for the political accountability from those who sold Adria
DeleteHahaha you will wait forever.
DeleteAlenka Bratusek should be held responsible for selling the company to these scammers. Instead, she is now in government again!
DeleteI'm surprised this hasn't turned into a bigger political scandal. In some countries governments would collapse over making deals with such thieves.
Delete@9.10 the former Adria CEO is now Finance Minister so... :D
DeleteDo you believe that some people in the government didn't know what was going on in the background?
DeleteWell I certainly hope they didn't sell it to 4K on purpose so they could bankrupt it.
DeleteNot much due diligence was needed. Everyone knew they had no experience in the aviation industry. They said so themselves.
Deletemost of people expected that major players will fight for LJU when JP will go bust and that LJU will have more flights than before. Few of us knew from the beginning that this is fairy tale but I understand that they had to try. I just don't understand that they do not want to solve the problem after it's more than clear that national carrier is necessary for Slovenia's connectivity.
DeleteThe government at that time just didn't want the bankruptcy to be on their hands, as it would happen even earlier had there been no 4K.
DeleteAgree. Political responsibility must be investigated as well.
DeleteIt won't happen. 3 years have already gone by and no one has been held responsible.
Delete@Anon 09:48: +1. Without the sale, Adria would have gone bankrupt couple of years earlier.
DeleteGovernment should invest money in company and not to put it on sale.
Delete"Invest"...
DeleteJust goes to show how interconnected the aviation industry is. I mean who would have thought Adria would owe money to Ethiopian Airlines.
ReplyDeleteWhenever you fly one airline and credit your miles/points to another airline, the former has to pay a certain amount of money to the latter. On that basis, Adria is probably owing money to every single Star Alliance airline, Ethiopian included.
DeleteThe never ending saga.
ReplyDeleteTelevisa presenta...
DeleteLet's be realistic, Adria would have gone bankrupt with our without 4K
ReplyDeleteIt was in much better shape before 4k.
DeleteAnd result was not so bad in despite that most of time was managed by politically appointed managers. The real price Slovenia is paying now due to lack of connectivity. Those 5 mio per year to invest in national carrier was a peanuts compared to what we are losing now.
DeleteHow can you talk about 5m a year when it's clear from the article that the airline owed more than a hundred million at the time of its death? How delusional can you people be? Whatever the connectivity Adria brought to Slovenia, it's not worth 150 million euros.
Deletedo you realize what is the difference of JP before 4k took over and what was after that? Two completely different companies.
Deleteand yes, Adria with not the best management made 5-10 mio € loss per year. With competent management I strongly believe that JP could make profit.
Is there anyone they didn't owe money to?
ReplyDeleteThere seems that there is no airline that didn't put their hand up to get paid haha
ReplyDeleteBravo Slovenia!
ReplyDeleteWhat a sad end
ReplyDeletegermans are guilty for Adrias bankruptcy
ReplyDeletePartially yes.
DeleteExcuse my language but this can only be described as a clusterf*ck
ReplyDeleteDid they owe something to the state of Slovenia or companies directly owned by the state? If yes, how much? No one is mentioning it.
ReplyDeleteIt would be interesting to see how much the Slovenian public has lost.
Deletegood luck getting a single euro
ReplyDeleteNo problem, just need to sell those artworks. haha
Delete6 million to LH?!? What for?
ReplyDeleteLH cartel always wants money.
DeleteAnd that's just mainline LH.
DeleteSad, sad, depressed story.
ReplyDeleteAdria was a gem once, I loved flying JP.
I have no words, I feel angry with those responsible and not yet accountable.
+1
DeleteTrue. Above poster writing about Adria always on brink of bankruptcy and collapse is very wrong. JAT was much bigger, had huge network, was very good company 1980-1990, but Adria was even better, more innovative from industry side, and with higher quality of service, from passenger side. And profitable, just to have things clear, with no gvt aid and no subventions
DeleteThat's why Inex had to buy it for Adria to avoid bankruptcy. It is well documented, even during Yugoslav times about the airline's poor finances.
DeleteYes, they had difficulties in one period. Which was solved by changing the owner, and afterwards successful business continued. Proves both things I am claiming, one : Adria was innovative and successful, and two : Yugoslavia was market economy
Delete@ pozdrav iz Rijeke11:00 - yes, sure - I guess Dash-7 was SO innovative and comfortable, both "from industry side" and "passenger side"... Yes, they got an Airbus among first ones, but that's it. Nothing special about Adria, really. Just a small charter airline who started regular flights in the 80s to try to compete with JAT.
DeleteYes, it was Adria which made JAT buy ATR for regional traffic. Their innovation was finding out flight from secondary Yugoslav airports could be profitably operated and they went for it. JAT followed. They were the first Yugoslav company to operate North American charters on leased DC-8, almost a decade before JAT started it. I believe it was not innovative as well. Or more than successful Seychelles flights. Or German "workers flights", "crossing" in ZAG from Split, Dubrovnik, Sarajevo, Mostar, Skopje and Beograd going to Stuttgart, Dusseldorf, Dortmund, Hannover/Hamburg and Berlin, which Air Yugoslavia copy pasted later. It would take too much time and space to list it all, but I believe whatever I list would not be enough, because you already decided what you want to think about Adria
DeleteJust to add explanation as people might be confused : Air Yugoslavia was charter division of JAT, commercially separate entity, using free capacities of JAT fleet and operating ad hoc charters, regular (ABC) charter's, and charter chains to all continents except South America, and German "workers flights" were actually regular, although formally charter
DeleteThe money JU and OU are asking for is the amount of money they burn each day.
ReplyDeleteThey probably burn much more on a daily basis.
DeleteImagine putting OU and JU in the same sentence hahaha
DeleteOU and JU are indeed inseparable when the topic is state aid or financial loss.
DeleteNothing in common between the two. One is using state aid to grow and develop in a sustainable direction, the other to maintain the status quo.
DeleteFantastic result of a privatization process. Congratulations to all sides involved.
ReplyDeleteSo how will this end? I doubt they will ever manage to raise so much money.
ReplyDeleteEntities trying to get money simply won't get them.
DeleteVultures picking at a dead carcass.
ReplyDeleteAnd what do you suggest for them to have done. Write off the millions owed by Adia to their business?
DeleteI hope they get their money.
ReplyDeleteI especially hope Cartel will get 90 % of overall debt
DeleteThey should get 100%!
DeleteHahaha, good one, and while paying them, "Danke Deutschland" should he played ☺
DeleteI find it amazing that not a single person has been even arrested for the banlruptcy of this airline.
ReplyDeleteSimilar scenario awaiting OU unfortunately.
ReplyDeleteCroatian government won't let that happen.
DeleteI thought the same about the Slovenian government.
DeleteMaybe it would already happen in Croatia, but they have good example why not to let national carrier go bust...
DeleteWhy is that? OU brings very little extra connectivity to Croatia. How many destinations do they cover that are not also covered by other airlines?
DeleteThey are not there in Croatia for connectivity, or for tourism, or local population. They are there to feed Cartel while filling greedy Kradeze pockets. As long as these two goals are achieved, they will be around.
DeleteBut why is feeding "Cartel" categorized as something which does not bring money? If you are smart you can get it a lot..Ok it's true that I don't know how they work at OU, but being smaller does not necessarily mean that you can't get good piece of cake.
DeleteDoes it anon 10:59? Than I clearly do something wrong when I buy tickets as most of time OU is the right choice from ZAG.
Delete@An.12.26
DeleteYou only have to check their financial results, nothing else
The government didn't have to save Adria. They could have just created a new company like Montenegro did.
ReplyDeleteThe EU wouldn't let them.
DeleteAlso I'm not sure how legal it is what Montenegro did.
DeleteThe government did not propose a new airline last year. Using EU funds. But the EU rejected the proposal.
DeleteSorry that was meant to say *government did propose
DeleteBut they did not rejected it because it's forbidden to establish new carrier. Our smart guys proposed that in recovery and resilience plan if I am not wrong. And those fund are meant for green technology and not for national carrier. Slovenia as Slovenia...
DeleteHow dare are you all to say bad things about aviation in Slovenia. You guys are bashing Slovenia. LJU is the best connected airport in ex-yu and it is also growing explosively! Bravo Fraport! Bravo Slovenia!
ReplyDeleteThis might be a stupid question but why do companies such as ASL still care about getting 22k euros out of Adria, knowing that its unlikely they will get them? Even for an airline of ASL's size i imagine 22k is nothing, they probably make double or triple that just for one charter flight. There must be some legel expenses involved as well.
ReplyDeleteSame goes for UA - please what is 200k euros for one of the 3 biggest airlines in the world?
Because a well run business doesn't just go around writing off debt.
Delete200k here, 200k there, a million tomorrow, and the whole business quickly spirals down deep into the red figures.
Plus either way they have lawyers/accountants on payroll.
DeleteWhat happened to the brand name? I thought the buyer would make some use of it. If I remember well, it went to one of Rastoders companies.
ReplyDeleteNo, the brand name was bought by an investor from the UAE who is now trying to sell it. The AOC was bought by one of Rastoder's companies but they did nothing with it and it has lapsed.
DeleteSuch a waste of... everything.
DeleteI'm surprised Ryanair isn't also asking Adria for money. Just because 😂
ReplyDeleteDont laugh ...
DeleteThis is really eye opening and shows just what bad state this airline was in since they owed money to Southend airport to which they didn't fly to for years before they went bankrupt.
ReplyDeleteSteta i veliki ne iskoriscenji potencijal od strane JP i OU da su se spojili mogli su napraviti izuzetan posao. Sa 3 A321 LR/XLR i 2 A330 da se iskoristi potpuno letnja sezona a ovako samo sluze kao feederi.
ReplyDeleteINN-NS
2x0=0
DeleteRYR will be in LJU very soon.
ReplyDelete