Bankruptcy proceedings were initiated by the management of the company because of the company’s insolvency and based on the Slovenian Financial Operations, Insolvency Proceedings, and Compulsory Dissolution Act (ZFPPIPP) which obligates the management of a company in the position of Adria Airways to file for bankruptcy proceedings of the company.
The court has a three-day statutory period within which it shall decide on the opening of bankruptcy proceedings.
The company announces that it will cancel all scheduled flights due to initiation of bankruptcy proceedings.