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7JetSet7 Code: ADR
Status: Operational
Region: EUROPE
Employees 700
Telephone: +386 4 255 9000
Fax: +386 4 259 4573

Click below for data links:


Zgornji Brnik 130h
Brnik SLO-4210 Ljubljana, Slovenia

Slovenia (Republic of Slovenia) was established in 1991, it covers an area of 20,251 sq km, its population is 2.1 million, its capital is Ljubljana, and its official language is Slovenian.


1 A320-200 (V2500-A1), EX-(KHT).


1995 = +12.7% (RPK) (TRAFFIC), +10.9% PASSENGERS (PAX), +24.3% (FTK) (FREIGHT TRAFFIC).

DISPOSED OF 1 DC-9-30 IN 1995.

OCTOBER 1996: 1 A320-200 (V2500-A1), EX-(MLT).







JANUARY 1998: 1 A320-200 LEASED TO (BCM). 1 A320-200 LEASED TO AIR MALTA (MLT). 2 CL-600-2B19'S (CF34-3B1) (7166; 7170) DELIVERIES.




MAY 1998: 1 ORDER CANADAIR RJ200 (CF34-3B1).

OCTOBER 1998: FISCAL YEAR (FY) 1997 = +$1.4 MILLION (-$12.6 MILLION).


DECEMBER 1998: 2 DC-9-32'S (47239 TO CARTINA LEASING, 570 TO CEBU).


( (


MARCH 2000: 1999 = 832 MILLION (RPK) TRAFFIC (+15%); 4.16 MILLION (FTK) FREIGHT TRAFFIC (+20%); 780,000 PASSENGERS (PAX) (+13%).





JULY 2000: 1999 = +$71,000 (+$3.35 MILLION: 832 MILLION (RPK) TRAFFIC (+15.3%); 59.1% LF LOAD FACTOR; 4.16 MILLION (FTK) FREIGHT TRAFFIC (+20.2%); 780,000 PASSENGERS (PAX) (+12.6%); 578 EMPLOYEES.

MARCH 2001: 2000 = 866.22 MILLION (RPK) TRAFFIC (+4%), 4.49 MILLION (FTK) FREIGHT TRAFFIC (+8%), 866,000 PASSENGERS (PAX) (+11%).




JANUARY 2002: 2001 = 790 MILLION (RPK) TRAFFIC (-9%); 4.1 MILLION (FTK) FREIGHT TRAFFIC (-9%); 801,000 PASSENGERS (PAX) (-8%).




July 2002: Switches Moscow operations, from Sheremetyevo, to the modernized Domodedovo Airport.

2001 = +$619,000 (+$706,000): 790 MILLION (RPK) TRAFFIC (-8.8%); 60.9% LF LOAD FACTOR; 801,000 PASSENGERS (PAX) (-7.3%); 4.11 MILLION (FTK) FREIGHT TRAFFIC (-8.6%); 577 EMPLOYEES (+0.3%).

September 2002: (ADR) will become Europe's 1st Bombardier-recognized, CRJ heavy maintenance facility.

November 2002: Yugoslav (JAT) resumes service, Belgrade to Ljubljana in cooperation with Adria Airways (ADR).

February 2003: In March 2003, Munich to Vienna (CRJ200, daily).

CL-600-2B19 (7032, S5-AAH), Bombardier leased.

March 2003: In 6/03, Ljubljana to Dubrovnik.

2002 = 793.87M RPK (+1%); 814K PAX (+2%); 4.52M FTK (+10%).

583 employees.

Parent organization/shareholders: Development Corporation of Slovenia (state owned) (75%); Slovenia Investment Funds (16%).

July 2003: 2002 = +$543,000 (+$618,000): 794 MILLION RPK (+.5%); 58.4% LF; 814,000 PAX (+1.6%); 4.52 Million FTK (+10.1%).

September 2003: 2002 = 794 Million RPK (+.5%); 800,000 PAX (+1.6%).

210 (ASY) 969; 211 (TRANS STATES A/L) 861M; 212 (SAS) COMMUTER) 854M; 213 (PORTUGALIA) 827; 214 (ADR) 794; 215 (PIE) 789; 216 (MIB) 771; 217 (IRB) 759; 218 (AUA) 749; 219 (ORC) 722; 220 (EXECUTIVE A/L) 718; 221 (AIR DOLOMOTI) 712; 222 (CITYJET) 694; 223 (TCV) 691; 224 (MNG) 686; 225 (UKA) 676.

October 2003: Code share with Aeroflot Russian Airlines (ARO), Ljubljana to Moscow and moves its operations from Moscow Domodedovo to Sheremetyevo.

March 2004: 555 employees. (T: +386 1 36 91 000).

April 2004: Ljubljana to Helsinki (CRJ200, weekly). In 5/04, code share with (LOT) Polish, Ljubljana to Vienna to Warsaw. Code share with Aeroflot (ARO), Ljubljana to Moscow (SVO).

July 2004: 1/6 orders CRJ200.

September 2004: Adria Airways (ADR) and Croatia Airlines (CRH) became the 2nd & 3rd airlines to receive approval to join the Star (SAL) Alliance as regional members.

(ADR) currently operates 180x-weekly flights to >20 European destinations.

CL-600-2B19 (7248, S5-AAI), (GEF) leased.

November 2004: Croatia (CRH) and Adria (ADR) become regional members of The Star (SAL) Alliance. (ADR) operates 180x-weekly flights from Ljubljana to 20 mainly European destinations.

January 2005: CRJ200 (8010, S5-AAJ) delivery.

March 2005: Star Alliance partners (TAP) Air Portugal, All Nippon (ANA), bmi (BMA), Lufthansa (DLH), Thai (TII), Adria Airways (ADR), & (SAS) will all start using Terminal 1 at Paris Charles de Gaulle (CDG) which will have 8 Million passenger/year and will become a mini-hub for these carriers.

June 2005: Adria Airways (ADR) will perform maintenance work on A319's, A320's, & A321's for Air France (AFA) Industries, starting with 10 aircraft this year.

Maintenance services are provided for Canadair Regional Jet and Airbus A320 family airplanes.

Opened a new EUR 2.5 Million/$3 Million maintenance hangar at its base in Ljubljana with capacity for 3 CRJ's or 1 A320. Expects to perform maintenance work on approximately 70 airplanes from foreign carriers this year.

July 2005: Has approximately 180x-weekly to 18 cities in Europe. In 9/05, Ljubljana to Warsaw (4x-weekly) in partnership with (LOT) Polish Airlines.

August 2005: Next month, code share with (LOT) Polish Airlines, Ljubljana to Warsaw (4x-weekly).

Austrian Airlines (AUL) will transfer its remaining Vienna to Ljubljana services to code share partner (ADR) with the beginning of the winter schedule.

September 2005: Swiss (CSR) will begin new code share services from Zurich to Ljubljana with Adria Airways (ADR) from October 30.

October 2005: This September, Adria Airways (ADR) increased its passenger numbers by +9%, with 1,866 flights carrying 101,805 passengers, which is +11% more than in September 2004. In September, (ADR)'s approximately 180 scheduled weekly flights to 18 European cities served 75,210 passengers (+2% more than last September), and there was a +50% increase (to 26,595) in the number of passengers on the charter flights that (ADR) operates for travel agencies and that primarily serve Mediterranean holiday destinations. The passenger load factor was 69% LF, or +11% more than in September 2004.

Adria (ADR)’s new route between Ljubljana and Warsaw is successful and popular. Flights are offered 2x-weekly on the route, which began operating on September 5. Most passengers are business (C) travelers, and there are increasingly more organized groups. In September the number of flights to Brussels also increased to 12x-weekly.

This week (ADR), added another flight to its Brussels service, bringing the total of weekly flights between Ljubljana and Brussels to 12x-. The service uses a 48-seat Canadair Regional Jet. Until now, (ADR) has offered 11x-weekly between the 2 capitals (2x-daily from Monday to Friday, and on Sunday evenings). With the new service, passengers in both directions can now also travel on Saturday mornings.

(ADR) began flying to Brussels in 1998 with 3x-weekly. The number of weekly flights has gradually increased and, because of the growing demand since Slovenia’s accession to the European Union (EU), has now reached 12x-weekly.

Adria Airways (ADR) will operate seasonal summer service from Ljubljana to Birmingham from May 10th through September. (ADR) will fly on Wednesdays with an A320.

In the year following Slovenia’s (EU) entry (through May 1, 2005), (ADR) carried 34,871 passengers on this route, a 3rd more than the year before. By the end of August this year, (ADR) carried 22,017 passengers on this route, or +12% more.

On September 23, Adria Airways (ADR) began operating a new cargo route between Ljubljana and Sarajevo. Flights take place 3x-weekly on Mondays, Wednesdays and Fridays, and offer good connections to (ADR)'s flights to other European destinations. The connection to and from Frankfurt is especially convenient, offering cargo shipment from Sarajevo via Ljubljana in a single day. For this purpose (ADR) has leased a Turbolet cargo aircraft, which can transport 1.5 tons of freight.

Adria plans to expand its cargo operations, especially to destinations in SE Europe.

December 2005: Adria Airways (ADR) began flying a new cargo route between Ljubljana and Frankfurt. Adria Airways (ADR) will inaugurate nonstop service from Ljubljana to Rome Fiumicino on March 26th. (ADR) will operate 4x-weekly, on Monday/Wednesday/Friday/Sunday, with a CRJ-200.

February 2006: Star (SAL) Alliance member carriers at Paris (CDG) Terminal 1 have begun moving into new check-in Hall 4, (SAL) announced last week. Thai Airways (TII) and bmi (BMA) already are using the new Star (SAL) Alliance facilities and Adria Airways (ADR), All Nippon Airways (ANA), Croatia Airlines (CRH), (LOT) Polish Airlines, Lufthansa (DLH) and (SAS) Scandinavian Airlines will relocate by the end of the month. There are 24 check-in desks currently available. Singapore Airlines (SIA), United Airlines (UAL), US Airways (AMW)/(USA) and Varig (VAR) will start making use of the new facilities in 2008 once additional areas of the terminal are refurbished. Star Alliance-branded self-service check-in units will become available in March to customers of select alliance carriers.

March 2006: Adria Airways (ADR) will begin 4x-weekly service from Ljubljana to Rome via code share with Air One (ADH). 2x-weekly A320 service to Barcelona on Thursdays, & Sundays, also will be added, along with a 6x-weekly service to Tirana using CRJ-200LRs.

International Aero Engines (IAE) said (ADR), the launch customer for the (V2500), signed on as the 1st European customer for the (V2500) Select aftermarket program, a combined engine upgrade and support initiative. The upgrades will be released in 2008 and retrofitted to (ADR)'s 3 (V2500)-powered A320s.

April 2006: As the national airline of Slovenia, Adria Airways (ADR) operates scheduled and charter, jet airplane services to 40 destinations in 20 countries.

543 employees (including 106 Flight Crew (FC); & 65 Cabin Attendants (CA)).

(IATA) Code: JP - 165. (ICAO) Code: ADR (Callsign - ADRIA).

( (

Parent organization/shareholders: Slovenian Pension Fund (56%); Slovenian Restitution Fund (20%); Zvon dva Holding (13%); Infond Investment Company (5%); employees & others (3%); National Finance Corporation (3%).

Alliances: Star Alliance (SAL); Aeroflot Russian Airlines (ARO); Montenegro Airlines (MNO); & Swiss International Air Lines (CSR).

Main Base: Ljubljana Jose Pucnik(LJU).

International, Scheduled Destinations: Amsterdam; Brussels; Copenhagen; Frankfurt; Istanbul; London; Moscow; Munich; Ohrid; Paris; Podgorica; Pristina; Sarajevo; Skopje; Vienna; Warsaw; & Zurich.

(ADR) will be leasing 2 737-500s shortly. The airplanes will serve a variety of destinations from Ljubljana including Birmingham, Copenhagen, Dublin, Frankfurt and Ohrid.

737-500 (UR-GAS), Ukraine International (UKR) wet-leased.

June 2006: Adria Airways (ADR) inaugurated nonstop service from Ljubljana to Rome (FCO). (ADR) now operates 4x-weekly on Mondays, Wednesdays, Fridays, and Sundays using a CRJ-200.

A320-231 (043, S5-AAA) wet-leased to Afriqiyah Airlines (AQY) (see photo).

July 2006: Adria Airways (ADR) appointed (CRS) Airlines Representatives as its 1st cargo (GSSA) in Spain, following the launch of 2x-weekly Barcelona to Ljubljana service. (CRS) will fill the same role for Norwegian (NWG), which launched a 3x-weekly Madrid to Oslo service.

October 2006: Adria Airways (ADR) said it achieved a "small profit" in the 9-month period ended September 30, as passenger numbers climbed +15% over the year-ago period to 811,132; had 926.32 million (RPK)s passenger traffic (+7%), and 1.905 billion (FTK)s (-14%).

(ADR) increased its 4x-weekly Ljubljana to Warsaw service to 5x-.

February 2007: Adria Airways (ADR) launched a 2x-weekly Ljubljana to Kiev service aboard a CRJ-200.

March 2007: Adria Airways (ADR) swung to profit in 2006, posting net earnings of +€70,102/+$92,424 compared to a 2005 loss of -€9.6 million. (ADR), the Slovenian flag carrier said it will "continue the project of corporate rehabilitation" in 2007, when it expects a +9% rise in revenue, increased marketing and e-ticket penetration, the launch of several new routes and a fleet upgrade centered on the introduction of 2 CRJ-900s.

VP Marjan Ravnikar credited leveling fuel prices, a reduction in labor costs, more favorable supplier agreements and refinancing of long-term loans for the result. Revenues rose +16.6% to €159.4 million, while expenses climbed +9% to an unreleased figure. Operating profit of +€847,029 compares to a -€3.8 million loss the prior year. Passenger numbers grew +9.6% to 1.02 million, as the fleet increased to 13 airplanes from 10. Load factor on scheduled services lifted +3.7 points to 63.5% LF.

(ADR) placed an order for 2 86-seat CRJ-900s, becoming (ADR)'s 12th customer. (CEO) Tadej Tufek said the CRJ-900 will allow for greater capacity than its 7 CRJ-200s, while replacing A320s on routes where "loads are insufficient to support the larger airplanes."

CL-600-2D24 (15129, S5-AAL), delivery.

June 2007: Austrian Airlines (AUL) announced it is moving to the Star Alliance (SAL) Common Information Technology (IT) Platform (CITP) for its inventory and check-in systems. The (CITP) is hosted by Amadeus for participating Star member (SAL) carriers and is based on the Altea customer solutions suite. Austrian (AUL) joins Lufthansa (DLH) and United (UAL), as well as regional member carriers Adria Airways (ADH) and Croatia Airlines (CRH) in choosing to migrate to the new platform, expected to occur by mid-2009.

Adria Airways (ADR) took delivery of 2 86-seat CRJ-900s.

November 2007: Adria Airways (ADR), a regional airline based in Ljubljana, placed a firm order for 2 CRJ-900s and 1 CRJ-1000, collectively valued at $122.7 million. Adria (ADR) currently operates 7 CRJ-200s and 2 CRJ-900s.

January 2008: 2007 statistics: 1.19 billion (RPK)s passenger traffic +13.6%; +12.5% capacity (ASK)s; +3.2 load factor for 67.1% LF.


February 2008: Adria Airways (ADR) earned a +€420,000/+$617,400 profit in 2007 on revenue of nearly €182 million, a result that (CEO), Tadej Tufek said "has overtaken that of 2006 and is an improvement on what we projected and very much in line with the company's long-term plans and strategy." It reported a +€70,102 profit in 2006 and a loss in 2005. Adria (ADR) carried 1.1 million passengers last year, up +12% from the prior year, and +8% higher than forecast. It said load factor "improved" to 67.1% LF. December passengers rose +25% year-over-year to 72,551. In January, the Slovenian carrier transported 74,839 passengers, up +21% over the year-ago month.

The Airplane Maintenance Division performed service inspections on 94 3rd-party airplanes, comprising 66 CRJs and 28 Airbus models in 2007. Earnings rose +28% from 2006 and were +17% higher than forecast.

April 2008: Adria Airways (ADR) renewed its (IATA) (ITA) Operational Safety Audit (IOSA) registration, which it received initially in August 2004. The Ljubljana-based airline carried >237,000 passengers in the 1st quarter, a +24% increase on the year-ago period. The number of flights was up +15%.

September 2008: CRJ-200ER (8061, EC-JOD), returned to Air Nostrum. F 100 (11340, YR-FKA) returned to Carpatair.

December 2008: Adria Airways (ADR) expects to report a 2008 operating profit of +€1.9 million/+$2.7 million, down approximately -34% from 2007, on a +17% climb in passengers to 1.3 million, the "(STA) Slovenian Press Agency" reported. Through November, (ADR) carried 1.2 million passengers, up +16% year-over-year, on a +15% rise in the number of flights.

January 2009: CL-600-2D24 (15215, S5-AAO), delivery.

November 2009: Adria Airways (ADR) posted a +€800,000/+$1.2 million profit in the 3rd quarter, its 1st surplus in 2009, but expects a full year in the red despite another profit in the current quarter, the "Slovenian Press Agency" reported. (ADR) also confirmed in a statement that it will become a full member of the Star Alliance (SAL) in January. The group announced elimination of the regional member designation (Blue1 (BLF) and Croatia Airlines (CRH) are the others) in June. (ADR) removed a 737-500 from service this month. Next year, it will withdraw 1 A320 and add 1 A319. By next summer, it plans to operate 1 A320, 2 A319s, 4 CRJ-900s, 6 CRJ-200s and 1 CRJ-100.

February 2010: Adria Airways (ADR) will launch 6x-weekly, CRJ-200 service from Ljubljana to Belgrade on March 1. (ADR) has, however, given up its Ljubljana - Ohrid route. (ADR) will be forced to move its operations from Ljubljana to Maribor between April 7 and April 20 when Ljubljana airport will be closed for runway renovation works. easyJet (EZY) will temporarily suspend its London Luton to Ljubljana route during this period. Jat Airways (JAT) will move its services to Portoroz, and Turkish Airlines (THY) is reportedly also considering serving Maribor. It is unclear at this point what alternatives will be chosen by Air France (AFA), (CSA) Czech Airlines and Montenegro Airlines (MNO), the other carriers serving Ljubljana on a scheduled basis.

April 2010: A319-132 (4282, S5-AAP), AerVenture leased.

May 2010: Adria Airways (ADR) took delivery of its 1st A319, the 1st of 2 slated to join its fleet, both of which are leased to the Slovenian carrier through AerCap (DEA). The (V2500)-powered airplane will seat 135 passengers in a 2-class configuration and will be deployed on European scheduled services from Ljubljana.

July 2010: Adria Airlines (ADR) is the national airline of Slovenia, operating international scheduled jet airplane services throughout Europe and charter services to European and Middle Eastern destinations from Ljubljana.

Employees = 719.

(IATA) Code: JP - 165. (ICAO) Code: ADR (Callsign - ADRIA).

Parent organization/shareholders: Slovenian Pension Fund (56%); Slovenian Restitution Fund (20%); Zvon dva holding (13%); Infond - Investment Company (5%); employees & others (3%); & National Finance Corporation (3%).

Alliances: Star Alliance (SAL); Aeroflot Russian Airlines (ARO); Montenegro Airlines (MNO); Swiss International Air Lines (CSR); and Ukraine International Airlines (UKR).

Main Base: Ljubljana Jose Pucnic airport (LJU).

Adria Airways (ADR) launched 4x-weekly, Ljubljana to Banja Luka service last aboard a CRJ-200.

August 2010: Adria Airways (ADR) has taken delivery of its 1st 2 A319-100s and has launched new services from its Ljubljana hub and 2 more routes outside Slovenia besides Frankfurt International to Vienna:
Ljubljana to Banja Luka: 4x-weekly CRJ-200 service has started on July 14;
Ljubljana to Marseilles: 2x-weekly seasonal CRJ-200 service has started on August 4;
Pristina to Frankfurt International: 5x-weekly A319-100 service starting on November 2;
Pristina to Munich: daily A319-100 service starting on October 31.

November 2010: Adria Airways (ADR) will launch service from Pristina to Munich (daily), Frankfurt (4x-weekly) and Dusseldorf (2x-weekly) using a 135-seat A319.

January 2011: Financially troubled Adria Airways (ADR) has been granted an additional credit of up to €4 million/$5.16 million from Slovenian banks based on (ADR)’s restructuring plan, Slovenia media outlets reported. According to the reports, (ADR) would be unable to continue operations without the new credit. (ADR)’s total debt reached €130 million, of which €80 million is linked to outstanding bank loans, "Dnevnik" reported.

By the end of March, a decision will be made on whether to continue operations. (ADR)’s restructuring plan will include massive staff cuts as well as the sale of assets. Employees have already received a -20% pay cut. Management is reportedly in talks with potential investors, including Lufthansa (DLH).

Later, (ADR) said it successfully concluded negotiations to acquire much-needed liquidity. (ADR) stated, "the funds represent the basis for a serious and fundamental restructuring of the company." (ADR) acquired the cash injection by selling ordinary shares in Adria Airways Tehnika to (PDP). It is expected that a similar agreement will soon follow with Aerodrom Ljubljana.

Concurrent with the refinancing, (ADR) accepted the resignations of (CEO), Tadej Tufek and Executive Officer Marjan Ravnikar "in light of (ADR)'s negative operating results and the fact that [the executives] do not enjoy a high measure of confidence among owners and employees," according to Maks Tajnikar, President of the board of Directors. (ADR) named Klemen Bostjancic, former chief supervisor of construction firm Vegradas, as its new (CEO). It named Robert Vuga Executive Officer.

February 2011: Adria Airways (ADR) Technika completed the 1st A320 12-year check for Spanair (SPP) under a 5-year base maintenance agreement covering (SPP)'s A320/A321 fleet.

March 2011: Adria Airways (ADR) will operate seasonal 4x-weekly, Ljubljana to Toulon service starting with its summer schedule. It will also launch service from Pristina to Paris Charles de Gaulle (weekly), Copenhagen (weekly), and Brussels (2x-weekly).

July 2011: Air Berlin (BER) and Adria Airways (ADR) have expanded their code share partnership to include (BER)’s new 4x-weekly, Berlin Tegel to New York (JFK) flights.

September 2011: Adria Airways (ADR) will suspend 9 routes from Ljubljana starting with the winter schedule.

A source said that the Slovenian government called an emergency meeting to evaluate the urgency of a rescue plan that would prevent the airlines going bankrupt.

The Star Alliance (SAL) member concluded negotiations in January to acquire much-needed liquidity and named Klemen Bostjancic, former chief supervisor of construction firm Vegradas, as its new (CEO). It hopes to cut costs by -€9 million/-$12.6 million by reducing its network. (ADR) operates a mostly low-fares tourist network.

Podgorica, Belgrade, Moscow, Copenhagen, Istanbul, Paris, London, and Warsaw are among destination cities rumored to be axed.

According to the Austrian Radio "(ORF)," (ADR)’s total debts stand at €86 million/$118.6 million. (ADR) has 700 employees.

Later, shareholders of Adria Airways (ADR) approved a cash injection of €50 million/$68.4 million and a debt-to-equity conversion of €19.7 million against the financially troubled airline’s total debt of nearly €70 million.

According to (ADR), the Republic of Slovenia and (ADR)’s largest shareholder, state-run (PDP) Corporation, will invest the €50 million. The money was given on the condition that the creditor banks simultaneously perform the debt-to-equity conversion in the amount of no less than 25% of their claims toward the company. All the bulk shares, which will be issued by the company, have to be paid by September 30.

In addition, (ADR) said its shareholders appointed a special auditor to review the company business over the past 5 years.

In January, the Star (SAL) Alliance member was granted an additional credit of up to €4 million/$5.16 million from Slovenian banks based on (ADR)’s restructuring plan after its total debt reached €130 million. Klemen Bostjancic, former Chief Supervisor of construction firm Vegradas, was named as its new (CEO).

(ADR) announced it suspended 9 routes starting with the winter schedule. Croatia Airlines (CRH) said it plans to operate at least 1 of (ADR)’s CRJ-900s on some of its regional routes.

January 2012: Adria Airways (ADR) launched a new route from its secondary base at Pristina (PRN) in Kosovo on January 28. (ADR) now flies 2x-weekly to Verona (VRN) in northern Italy with its 135-seat A319 airplanes. Competition comes from Belle Air Europe (BEL)’s also 2x-weekly. Meridianafly (ALS)/(EUY) used to operate the route as well, having launched its services in 2007, but these were dropped on January 24.

(ADR) has started implementing its restructuring plan and has stored one of its 2 A320-200s and cancelled its routes from Ljubljana to Banja Luka and Tel Aviv Ben Gurion, from Pristina to Dusseldorf International and from Vienna to Frankfurt International as of October. (ADR) has also suspended its routes from Ljubljana to London Gatwick, Paris (CDG) and Warsaw until March. It has received 69.7 million EUR of additional capital from its shareholders and debtors turning debts into shares to avoid bankruptcy. (ADR) launched 2x-weekly, Pristina to Verona service on January 28.

Croatia Airlines (CRH) and Adria Airways (ADR) have signed a cooperation agreement that will see both airlines using airplanes of the other carrier on some of the routes as required.

StandardAero has signed an exclusive maintenance agreement with Adria Airways (SGC) to support its Honeywell (SGC) RE220 and GTCP36-150RJ (APU)s, powering 4 Bombardier CRJ-900s and 6 CRJ-100/-200s.

March 2012: The majority of Adria Airways (ADR) supervisors resigned at a board meeting after failing to oust (CEO) and Chairman Klemen Bostjancic.

According to a statement released by (ADR), “Klemen Bostjancic, President of the management board, was deposed and a new President appointed. However, after a heated discussion, the supervisory board members established that they had failed to take into account the legal aspects involved in the role of the management board President of an airline; under the Adria Airways (ADR) memorandum of association, the management board president is also the accountable manager.”

As a result, (ADR) said supervisory board President, Vinko Moze “resigned irrevocably and with immediate effect, while the remaining supervisory board members revoked the decision to depose Mr Bostjancic and the decision to appoint a new management board President. Klemen Bostjancic thus remains the (ADR) management board President,” (ADR)’s statement said.

The financially troubled carrier’s supervisory board met to discuss restructuring, including the future of Adria Airways Technika, the procedure for selling the airline and selecting a financial advisor.

In September, company shareholders approved a cash injection of €50 million/$68.4 million and a debt-to-equity conversion of €19.7 million against the airline’s total debt of nearly €70 million.

May 2012: Croatia Airlines (CRH) hosted a 2 day meeting of the region's carriers including Adria Airways (ADR), Jat Airways (JAT) and Montenegro Airlines (MNO) to explore how the loss making carriers could cooperate better. The carriers agreed to regularly meet and to come up with options to better utilize their fleets and to optimize schedules and pricing to allow for better connections between the airlines. Prior to this meeting, the Croatian government had more optimistically called on the carriers to come up with a plan to form a multinational holding company that would take control and centrally manage all of the carriers.

Croatia Airlines (CRH) has started to put its fleet sharing agreement with Adria Airways (ADR) into action and is now using (ADR) CRJ-200s on some of its flights between Zagreb Pleso (ZAG) and Istanbul Atatürk/Yesilköy International (IST) airports.

June 2012: Adria Airways (ADR) has confirmed it has resumed talks with Air India (AIN), ljubljana Joze Pucnik (LJU) airport authorities and the Slovenian government about establishing Ljubljana as a transit point for (AIN) flights to the USA. (AIN) currently operates daily services from Ahmedabad Sardar Vallabhbhai Patel International (AMD) via Mumbai Chhatrapati Shivaji International (BOM) to Newark Liberty International (EWR), from Hyderabad Rajiv Gandhi International (HYD) via Delhi Indira Gandhi International (DEL) to Chicago O'Hare International (ORD), and from Mumbai Chhatrapati Shivaji International (BOM) via Delhi Indira Gandhi International (DEL) to New York John F Kennedy International (JFK).

August 2012: The Slovenian government has begun the privatization process of Adria Airways (ADR) by seeking bids for 74.87% of the flag carrier’s shares. (ADR) said that interested parties should submit nonbinding bids by September 10.

The stake is being sold by the state and 4 banks, which together hold 99.87% of (ADR)’s stock.

Barons Financial Services is the exclusive advisor to the sellers.

(ADR), which posted a 1st-quarter net loss of -€8 million/-$9.8 million, received a €50 million capital boost in September 2011. (ADR) is undergoing restructuring after failing to find international strategic partners.

(CEO) Klemen Bostjancic said the carrier will restructure its fleet this fall. Its 3 A319/A320s are expected to be phased out. (ADR) also operates 4 Bombardier (BMB) CRJ200s and 4 CRJ-900s. It transported 1.16 million passengers last year.

October 2012: Adria Airways (ADR) will operate Ljubljana service to Amsterdam (4x-weekly), Brussels (daily), Belgrade (5x-weekly), Istanbul (daily), Vienna Schwechat (daily), Frankfurt (FRA) (daily), Copenhagen (3x-weekly), Moscow Sheremetyevo (daily), Munich (MUC) (daily), Podgorica (3x-weekly), Pristina (PRN) (daily), Sarajevo (6x-weekly), Skopje (daily), Tirana (daily) and Zurich (daily) as well as (PRN) service to (FRA) (6x-weekly), (MUC) (5x-weekly) and Verona (2x-weekly) between October 28 to March 30.

November 2012: Adria Airways (ADR) and Air Baltic (BAU) will both be faced with an investigation the European Commission (EC) has launched on November 20 to review if capital increases and loans provided by the Slovenian and Latvian governments between 2007 and 2011 can be considered as legal state aid under European Union (EU) legislation. The (EC) will now check if private investors would have possibly made similar decisions in such situations. The (EC) can order the financially struggling airlines to pay back the state aid received, if it considers the payments from the governments to the national carriers as illegal. It has previously done so in the cases of Malev (HGA) and Spanair (SPP).

Adria Airways (ADR) said it has been unofficially informed that the (EC) has opened an investigation into the state's measures for the benefit of the company from 2007 to 2011. “We would like to stress that it is in the interest of (ADR) to prove that all the measures so far were carried out in accordance with the applicable legislation,” (ADR) said, adding the move is no surprise to the company.

The financially troubled carrier believes the capital increase between 2007 and 2011 and the sale of shares of the subsidiary Adria Airways (ADR) Tehnika do not represent state aid as all the investments met the criteria of the Market Economy Investor Principle.

(ADR) estimates the entire investigation procedure will take more than a year. (ADR) received a €50 million/$64.8 million capital boost in September 2011, but said it would need an additional €9 million to cover its negative working capital and survive the winter.

December 2012: Slovenia-based Adria Airways (ADR) has dismissed (CEO) Klemen Bostjancic and has appointed previous Commercial Director Mark Anzur to replace him until a new one is found.

Bostjancic was dismissed “for economic and business reasons,” according to an (ADR) statement.

Last month, (ADR) said it was unofficially informed that the European Commission (EC) has opened an investigation into the state's measures for the benefit of the company from 2007 to 2011. (ADR) received a €50 million/$64.8 million capital boost in September 2011, but said it would need an additional +€9 million to cover its negative working capital and survive the winter.

(ADR) said, “Anzur will perform the tasks and duties of Board Chairman until a public call for a new President of the management board has been issued, but for no longer than 6 months. The supervisory board will publish a public call for applications for a new President of the management board within 45 days.”

May 2013: Adria Airways (ADR)’s summer timetable includes: 4x-daily, Ljubljana - Frankfurt; 3x-daily, Munich - Zurich; 2x-daily, to Vienna; 13x-weekly, to Brussels; 11x-weekly, to Skopje; 10x- weekly, to Tirana; 8x-weekly, Moscow; 6x-weekly, to Amsterdam; 5x-weekly, to Belgrade and to Sarajevo; 4x-weekly, to Copenhagen; 3x-weekly, to Podgorica; 2x-weekly, to Manchester; 1x-weekly, to Split. Daily service to Istanbul, Paris and Pristina has begun.

Adria Airways (ADR) plans to lease its 2 2010-built A319s to Serbia’s (JAT) Airways for 2 years.

(ADR) has also grounded two Bombardier CRJ-200s for economic reasons.

(ADR), which dismissed (CEO) Klemen Bostjancic in December, continues its search for a new (CEO). Acting (CEO), Mark Anzur’s 6-month period is set to end this month. 15 candidates have been interviewed for the position, several Slovenian media outlets reported.

At the end of last year, (ADR) was unofficially informed that the European Commission (EC) opened an investigation into the state’s measures for the benefit of the company from 2007 to 2011.

(ADR) reported a 1st-quarter loss of -€5.7 million/-$7.3 million, narrowed a -€8 million loss year-over-year.

July 2013: Slovenian national flag-carrier, Adria Airways (ADR) has put a series of assets on the market as it seeks to reorganize and ease its financial problems. The small government-owned airline, which has made a financial loss in recent years, has been put up for sale by the Slovenian government.

In an invitation to tender, (ADR) is selling a maintenance hangar, workshops and office building at Cerklje Airport, in the east of the country. It is also offering for sale its Ljubljana-based flight school, plus a navigation and procedures trainer.

The deadline for sealed bids is Friday, July 19.

An airline official, speaking on condition of anonymity, said the sell-off of “unnecessary business assets” is part of Adria (ADR)’s contribution toward the restructuring process.

In May, (ADR) announced plans to lease out airplanes to reduce costs. It received a €50 million (at the time, $64.8 million) increase in capital in September 2011.

The European Commission (EC) said last year it was investigating state aid to Adria (ADR) over several years. That investigation is expected to conclude in the fall.

December 2013: Air India (AIN) and Adria Airways (ADR) have signed a code sharing agreement for services in India and Slovenia.

February 2014: The European Commission (EC) has launched in-depth investigations into the financial rescue deals for Cyprus Airways (CYP) and Estonian Air (ENA), to verify whether cash infusions breach European Union (EU) state aid rules. Earlier investigations into both carriers for similar suspected infringements are still ongoing.

In Cyprus Airways (CYP)’s case, the (EC) will investigate the Mediterranean island government’s plans to support the restructuring of the national carrier with €103 million/$139 million. The (EC) said it would “investigate in particular whether the restructuring plan is suitable to make Cyprus Airways (CYP) viable without continued state support and to offset the competition distortions created by the state aid.” It also has concerns as to whether (CYP) is making a sufficient contribution to the cost of restructuring. Cyprus Airways (CYP) has been loss-making for several years.

The opening of an in-depth investigation gives interested 3rd parties an opportunity to comment on the measures under assessment. The (EC) gave notice of its concerns last year.

Last December, (CYP) had notified the (EC) of a €102.9 million aid package to restructure Cyprus Airways (CYP) over a 5-year period. This included a €31.3 million capital injection granted in 2012, conversion of €63 million of debt to equity and €8.6 million to cover the deficit of the company's Provident Fund, a benefit scheme for some employees.

(EU) rules say that governmental restructuring aid may be granted only once in 10 years, so that chronically weak companies are not kept alive artificially, to the detriment of better-run competitors. The (EC) noted it had previously approved restructuring aid for Cyprus Airways (CYP) in 2007 and that since then, (CYP) had received the 2012 capital injection and a €34.5 million loan the following year.

In Estonian Air (ENA)’s case, the (EC) is looking at whether a 2013 €40.7 million restructuring grant is legal. As with Cyprus Airways (CYP), the (EC) has doubts as to whether this will ensure (ENA)’s long-term viability. Similarly, it said that earlier state interventions totaling €57 million since 2009 may be deemed to have breached the “once in a decade” ruling.

Several other (EC) investigations are underway into (LOT) Polish Airlines, airBaltic (BAU), Adria Airways (ADR) and (SAS) Scandinavian Airlines.

March 2014: Adria Airways (ADR) is adding new services to its summer schedule March 30 to October 25: 2x-weekly, Ljubljana to London, 4x-weekly to Prague, and 3x-weekly to Warsaw. Also (ADR) will increase services to: 4x-weekly Tirana to Frankfurt, 6x-weekly Pristina to Malmo, and Munich to Lodz.

Adria Airways (ADR) has a wealth of experience spanning >50 years in charter and scheduled air traffic. Today, the majority of Adria Airways (ADR) business is in scheduled flights; its network links Ljubljana with 20 cities throughout Europe and offers excellent connections to SE Europe. (ADR) offers >160 scheduled flights each week to Amsterdam, Brussels, Copenhagen, Frankfurt, Istanbul, London, Manchester, Moscow, Munich, Paris, Podgorica, Prague, Pristina, Sarajevo, Skopje, Split, Tirana, Vienna, Warsaw, and Zurich.

The company’s head office is at Ljubljana Joze Pucnik Airport and it has representative offices at Ljubljana Joze Pucnik Airport, Brussels, Moscow, Frankfurt, Zurich and sales agents in almost all European countries.

In January 2010, Adria Airways (ADR) became a full member of the Star (SAL) Alliance. In connection with its partners, (ADR) offers access to a global network of flights on 28 airlines, which offer >21,900 daily flights to 1,328 airports in 195 countries.

Adria Airways (ADR) embodies many features which are characteristic of Slovenia: hospitality, friendliness and high-quality services. Together with a professional, caring staff and a modern fleet, (ADR) is committed to providing a high level of service and satisfaction, and to winning the loyalty of its passengers.

Bombardier Aerospace (BMB) announced that (ADR) has signed a firm purchase agreement for 2 CRJ900 NextGen regional jets. A Star (SAL) Alliance member with >50 years of experience in scheduled and charter services, (ADR) has been a Bombardier (BMB) customer since March 1997. It currently operates 4 CRJ200, 2 CRJ900 and 2 CRJ900 NextGen regional jets. Based on the list price for the CRJ900 NextGen airplane, the order is valued at approximately US$92 million.

Including Adria Airways (ADR)’s order, Bombardier (BMB) has recorded firm orders for 1,814 CRJ Series airplanes, including 341 CRJ900 and CRJ900 NextGen airplanes. Worldwide, CRJ Series airplanes are in service with >60 airlines and >30 customers operate corporate variants of the airplane. The airplanes are operating in >50 countries on 6 continents, and on average, a CRJ airplane takes off every 10 seconds somewhere in the world. CRJ Series airplanes have transported >1.4 billion passengers and have logged >38 million flight hours and >32 million takeoffs and landings.

April 2014: Adria Airways (ADR), expanded its European network with 2 new links. With the longest sector being the 713 km service from Munich (MUC) to Lodz (LCJ) in Poland, launched on March 30th and operated 6x-weekly utilizing its 81Y-seat CRJ 900s; and the shortest being inaugurated from Ljubljana (LJU) to Prague (PRG) on March 31st and served 4x-weekly by (ADR)’s 48Y-seat CRJ 200s, the Star (SAL) Alliance member doesn’t face competition on any of the new services. Furthermore, the new link to Prague was resumed after it was last operated in August 1996.

May 2014: Adria Airways (ADR) began 4x-weekly, Tirana to Frankfurt Airbus A319 service.

July 2014: The European Commission (EC) has approved restructuring plans for airBaltic (BAU), Adria Airways (ADR), and (SAS) Scandinavian Airlines, ruling that none of the 3 airlines breached European Union (EU) state aid rules.

Slovenia-based Adria Airways (ADR) and Croatia flag carrier, Croatia Airlines (CRH) have decided to freeze plans for privatization this summer.

(ADR) will delay its privatization process until after the country (Slovenia)’s elections July 13. The project is expected to resume when a new government is elected and installed.

Croatia Airlines (CRH) has put its privatization plans on hold to conduct a thorough analysis of the aviation market to identify potential investors before resuming its privatization process, several local media outlets have reported. Nevertheless, the search for a strategic partner remains difficult.

The Croatian government had planned to resume the privatization process over the summer, following a failed attempt last year. Croatian Minister of Sea, Transport & Infrastructure, Sinisa Hajdas Doncic has said the government cannot allow Croatia Airlines (CRH) to be purchased by a predator, which would in turn destroy the company. He said (CRH) needs a strategic partner, not a predator. “Croatia Airlines (CRH) needs to consolidate its operations and expand throughout the region,” the Minister said.

The Star (SAL) Alliance member posted an annual profit last year, but passenger numbers have weakened due to increased competition from low-cost carriers (LCC)s at its Zagreb hub.

In the 1st quarter, Croatia Airlines (CRH) transported 292,523 passengers, down -6.5% year-over-year. (CRH) continues to restructure its network and operates 2 Airbus A320s, 4 A319s and 6 Bombardier Dash 8-Q400s.

Adria Airways (ADR)’s restructuring process has been showing positive signs. 1st-quarter passenger numbers are up +10% to 188,494 year-over-year. (ADR) is expecting a full-year net profit of +€2.7 million/+$3.7 million compared to a -€3.1 million loss for 2013.

(ADR) operates 1 Airbus A320, 2 A319s, 2 Bombardier CRJ200LRs and 6 CRJ 900LRs.

August 2014: Adria Airways (ADR) has detailed plans to hit 2 million passengers and a €220 million/$295 million turnover by 2020, supported by a fleet of 16 airplanes.

October 2014: Adria Airways (ADR) will phase out its 2 remaining CRJ200s at the end of March 2015 and add another Airbus A320 on wet lease, as it proceeds with plans to set up a series of bases outside its Slovenian home market.

November 2014: Adria Airways (ADR) begins 2x-weekly, Ljubijana to Stockholm service on April 23. Beginning April 24, (ADR) begins 3x-weekly Ljubijana to Berlin service. New 2x-weekly, Tirana to Brussels and to Paris services begin on March 31. For summer service, (ADR) will again offer 2x-weekly service to London from May 16 and to Manchester from May 30.

December 2014: Adria Airways (ADR) adds 6x-weekly, Lodz to Amsterdam services March 29 and 12x-weekly Lodz to Munich in March. Both will see Bombardier (BMB) CRJ700 service.

March 2015: Adria Airways (ADR), the Slovenian national carrier, expanded its European network with 2 new links on March 31st, both being operated by its 81-seat CRJ 900s. (ADR) linked Tirana (TIA) to Brussels (BRU) and Paris (CDG) with 2x-weekly (Tuesdays and Saturdays) flights. (ADR), the Star (SAL) Alliance member will face direct competition only on the sector to Belgium, from Jetairfly (TUB)’s 3x-weekly flights.

April 2015: Hahn Air, a sales agent for airlines and travel agencies, now supports interline Electronic Miscellaneous Documents (IEMDs). The new service is available in the Amadeus global distribution system (GDS); other (GDS)s are expected to follow soon. The 1st partner to benefit from Hahn Air’s interline (EMD)s is Adria Airways (ADR). The Slovenian airline will be able to sell ancillary services in up to 190 markets.

May 2015: Adria Airways (ADR) began 6x-weekly Lodz to Amsterdam Canadair Regional Jet service.

A319-111 (1000, S5-AAX), ex-(F-GRHD), (SASOF) Aviation leased.

July 2015: Adria Airways (ADR) has been put up for sale again after the Slovenian government issued a request for Expressions of Interests (EOI) for a majority stake in (ADR) on July 1, Slovenian Sovereign Holding (SDH) confirmed on its website.

The last attempt to privatize 75% of the carrier failed in 2012.

The sellers, the Republic of Slovenia (represented by (SDH) (69.87%), (DUTB) (19.63%), and (SDH) (2.08%)) considering the disposal of the majority of shares (91.58%) by way of a joint sale transaction.

(ADR), the Star (SAL) Alliance member carried >1.1 million passengers in 2014. It serves 30 scheduled routes and various charter destinations throughout Europe.

According to its website, Adria Airways (ADR) operates a fleet of 2 Airbus A319s, 6 Bombardier CRJ900LRs, 1 CRJ700ER and 1 CRJ200LR.

September 2015: Adria Airways ((IATA) Code: JP, based at Ljubljana) (ADR) has announced it will suspend its Maribor to London Southend operations with effect from September 30 until at least spring of next year. The service launched in June on a seasonal basis with a decision on its shift to a year-round operation, is expected after the 1st 3 months.

As such, reports indicate that while the 3x-weekly service has generated a small loss, Adria (ADR) is still considering resuming it again next year.

Adria Airways (ADR) currently operates 11 aircraft, serves 20 countries, to 28 destinations, 32 routes and 56 daily flights.

October 2015: The Slovenian government has received several offers for Adria Airways (ADR) in its 2nd attempt to privatize the state-run carrier.

In a brief statement, Slovenian Sovereign Holding (SSH) and the country’s Bad Assets Management Company (BAMC) said it had received several bids for the 91.58% shareholding in Adria Airways (ADR) held by several Slovenian governmental organizations.

The identities of the bidders were not revealed. (SSH) stated it would not provide information on the process, “since any disclosure of information during this phase of the sale process would have a negative impact on the sale process itself.”

The Slovenian government attempted to sell the national carrier in 2012, without success.

“The offers received will be carefully examined by (SSH) and the (BAMC), and the sale process will be continued in accordance with the envisaged time schedule,” (SSH) said.

It did not give a timetable for a decision on possible buyers.

The small national carrier has fought back from heavy losses in recent years and is close to achieving breakeven. It plans to grow modestly out to 2020.

November 2015: News Item A-1: Adria Airways (ADR) eyes fleet growth; closes in on privatization.

(ADR) is considering adding +2 more aircraft to its fleet, as the Slovenian government prepares to enter exclusive negotiations for its 91.58% stake in (ADR).

News Item A-2: "Adria Airways (ADR) Introduces Scheduled Services From Tallinn in Conjunction with Nordic Aviation Group (NAG)" by Adria Airways (ADR) - The Airline of Slovenia, November 2015.

With the cessation of operations of Estonian Air (ENA), the Estonian government has created a new company, Nordic Aviation Group (NAG), to ensure a continuation of flight connections between Estonia and the rest of the world.

Adria Airways (ADR) introduced scheduled services from Tallinn in conjunction with the Nordic Aviation Group from November 8, 2015.

In the initial phase, flights will be operated by partner airlines (BMI), Carpatair (CPT), Next Jet, and Trade Air. During this period the Adria Flight Career Center retrained additional crew members in accordance with Adria Airways (ADR) protocols. This period also saw the incorporation of 3 CRJ900 and 2 CRJ700 aircraft that were previously part of the Estonian Air (ENA) fleet. The project was expected to run for between 12 and 18 months.

(ADR) provided the Nordic Aviation Group (NAG) with full commercial and operational support and operated all flights using its own aircraft or leased aircraft. The key aim of this project for Adria Airways (ADR) was the commercial effect of flying in conjunction with the Nordic Aviation Group, as well as a long-term alliance in the regional carrier sector with a search for synergies, which is the key to the success and survival of all regional airlines in Europe.

December 2015: Polish maintenance firm, Linetech has acquired 100% of Adria Airways Tehnika (AAT) from the Slovenian government.

Warsaw-based Linetech, which specializes in ATR, Boeing (TBC) and Embraer (EMB) maintenance, will use its acquisition of (AAT) to extend its capabilities to include Airbus (EDS) and Bombardier (BMB) aircraft.

(AAT)’s customers include Adria Airways (ADR), airberlin (BER), Swiss International Air Lines (SWS), (SAS) Scandinavian Airlines, and Lufthansa (DLH) subsidiary Germanwings (RFG).

“The acquisition of Adria Airways Tehnika is another step towards implementation of our international development strategy,” Linetech Chairman, Krzysztof Pietkun said.

Linetech plans to “grow and develop (AAT),” investing in new staff, training and equipment.

Following the acquisition, the group will have 6 heavy maintenance hangars, capable of handling simultaneous "C" checks on 13 aircraft.

Lintech performs base and line maintenance, as well as maintenance training.

The Slovenian government is also working to privatize Adria Airways (ADR), with a decision expected before the end of 2015.

January 2016: The Republic of Slovenia has agreed to sell 91.58% of Adria Airways (ADR) to Luxembourg-headquartered turnaround specialist "(4K) Invest" for €100,000/$108,756, subject to regulatory clearances and other conditions.

Slovenian Sovereign Holding (SSH) and Bad Asset Management Company (BAMC) hold the (ADR) shares on behalf of the state.

In a statement issued on January 19, (SSH) and (BAMC) said they have signed a “share purchase and sale agreement” with "(4K) Invest," after the investor offered the best bid for (ADR).

“At the general meeting of shareholders of Adria Airways (ADR) on January 19, 2016, this transaction was put into execution,” they said. “The capital increase and the sale process are expected to be completed in the following few months.”

Under the deal, (ADR) will undergo a +€4.1 million capital increase. Slovenia will contribute €3.1 million to this total, boosted by a further €1 million from "(4K) Invest."

(SSH) and (BAMC) said (ADR) has been facing business and financial problems for “quite some time.” However, it added that Slovenia’s share of the capital increase is lower than estimated and cheaper than (ADR) declaring bankruptcy, which would trigger redundancies and result in unemployment benefits. Adria Airways (ADR) contributes around €10 million to the national treasury in taxes alone.

“In addition to the paying-up of capital, [4K Invest] will provide for the viability and the development of the Slovenian national airline, and enable other long-term positive impacts,” (SSH) and (BAMC) said. “(ADR) will get a buyer who will restructure it, maintain the Slovenian airline and provide for its future development, enabling thus long-term positive impacts to the budget, the Slovenian economy, the development of the industry and of all the stakeholders of the company.”

The money from the capital increase will be used to return (ADR) to growth. Under its new ownership, (ADR) will maintain its hybrid business model, its Star (SAL) Alliance membership and stay focused on the Slovenian, Albanian, Kosovo and Macedonian markets.

“(ADR) is expected to add more modern aircraft in order to grow its international network, according to the buyer. (ADR) will continue to service its new market in Estonia,” (SSH) and (BAMC) said.

This most recent sale process was started in July 2015, following on from an unsuccessful attempt to privatize Adria Airways (ADR) in 2013. The earlier attempt failed because the “offers received were considered unacceptable,” (SSH) and (BAMC) said.

March 2016: Estonia’s new national carrier, the Nordic Aviation Group (NAG), has re-branded, taking the name "Nordica." Unveiled on March 11, (NAG) uses a dragonfly as its logo.

(NAG) was set up by the small Baltic nation’s government as a fallback in advance of the demise of Estonia Air (LIJ) last autumn. The European Commission (EC) had found (LIJ) had breached state subsidy rules and was ordered to pay back some €85 million/$95 million in aid. Unable to do so, it filed for bankruptcy.

The Nordic Aviation Group is a virtual airline, a not uncommon practice in the Nordic nations, whereby an entity is set up to operate the Sales & Marketing functions of an airline, but subcontracts the actual flying to a 3rd party.

Since it was set up in the wake of Estonian Air (LIJ)’s closure, (NAG) has used aircraft from several European carriers, but primarily uses aircraft from Adria Airways (ADR) of Slovenia. Nordica (NAG) flies under Adria Airways (ADR)’s air operator’s certificate (AOC).

Nordica (NAG) plans to make a transition to its own aircraft in the coming months.

March 2016: Restructuring specialist "(4K) Invest" has completed the majority takeover of Slovenian flag carrier, Adria Airways (ADR).

The new owner is registered in Luxembourg, but is managed from Munich, Germany. It acquired 96% of Ljubljana-based (ADR) and will make an offer to the remaining 4% of shareholders in the next few days.

State-owned (ADR) has been facing financial difficulties for several years and the country’s government has been keen to privatize the carrier.

When the sale announcement was made in January, the Slovenian government said that funding both from state sources and "(4K) Invest" would be used to help return (ADR) to growth.

The new owners will install Arno Schuster as a new board member.

Adria (ADR) said it aims to be profitable this year and that its fleet will mainly consist of Bombardier (BMB) regional jets, with several more to be added this year, mainly to serve new destinations in and from Estonia.

(ADR) has been operating flights on behalf of the newly rebranded Nordica (NAG), successor to Estonian Air (ENA), which was liquidated last year after being ordered to repay state aid by the European Union (EU).

Adria (ADR), a Star (SAL) Alliance member, mainly serves the markets of Slovenia, Macedonia, Kosovo, and Albania.

July 2017: CRJ900ER (15057, S5-AFA), ex-(EC-JNB) Regional One leased.

December 2017: News Item A-1: Slovenia’s Adria Airways (ADR) will begin 4x-weekly Ljubljana (LJU) to Hamburg; 3x-weekly (LJU) to Geneva; 4x-weekly (LJU) to Bucharest; 3x-weekly (LJU) to Sofia; 2x-weekly (LJU) to Dubrovnik; and 2x-weekly (LJU) to Brac service for the 2018 summer season.

News Item A-2: Founded in 1961, Adria Airways (ADR) is the national carrier of Slovenia. Privatized in 2016, it is 100% owned by (4K) Invest, a Luxembourg-based private equity fund with mainly German investors.

A member of the Star (SAL) Alliance, Adria Airways (ADR) operates a fleet of 3 Airbus A319 and 10 Bombardier CRJ900/CRJ700 aircraft from its hub at the Slovenian capital, Ljubljana. It also serves Frankfurt and Munich from both Pristina (Kosovo) and Tirana (Albania). (ADR) is the leading airline by seats on much of its network.

Its scheduled capacity is being reduced in 2017, although it has added 1 regional jet since the start of the year. It also operates wet lease contracts for other airlines.

In summer 2017, Adria Airways (ADR) bought Darwin Airline, formerly part-owned by Etihad Airways (EHD) and trading as Etihad Regional. The Swiss regional airline has been rebranded Adria Airways Switzerland, but is expected to suspend its only 2 scheduled routes in January 2018 to concentrate on wet lease operations for its new parent and other customers.

(ADR) has struggled to establish a record of sustainable profitability, but the monopolistic nature of many of its routes should provide a platform for improvement under its new owners.

February 2018: In the Slovenian Alps, an Island on an Emerald Lake Beckons.

Just over 30 miles northwest of the Slovenian capital Ljubljana, you’ll find an alpine lake that looks straight out of a fairytale. With a cliff-side castle, an emerald green, fresh water lake and some of the best views of the Julian Alps, you’d be forgiven for mistaking Lake Bled and its island church for a storybook cover. And as you cross the lake in a traditional wooden boat, learn the legend of the bell that lies below these emerald green waters.

April 2018: Slovenia’s Adria Airways (ADR) is on track for profitability and growth, (CEO) Holger Kowarsch said on the sidelines of the European Regions Airline Association (ERA) conference in Vienna. (ADR), the Star (SAL) Alliance member operates 3 Airbus A319s, 12 Bombardier CRJ700/CRJ900s and will soon take delivery of 6 Saab 2000s this year.

August 2018: "Adria Airways Opens German base at Paderborn-Lippstadt" by Kurt Hofmann (, August 10, 2018.

Slovenia’s Adria Airways (ADR) plans to open a base at German’s Paderborn-Lippstadt Airport from winter 2018 to 2019.

(ADR) said the German region of Ostwestphalen Lippe will be connected with 11x-weekly flights to Zurich (Switzerland), 4x-weekly service to Vienna (Austria) and 3x-weekly to service London Southend (UK). All routes will be operated using Saab 2000s, which (ADR) will take delivery of 6 this year.

(ADR) (CCO) Christian Schneider said opening the base is of “great importance” to “increase our footprint in the German market by adding Paderborn as our 5th destination in Germany.”

After delivery of the 6 Saab 2000s, (ADR)’s fleet will grow to 21 aircraft, comprising 3 Airbus A319s, 9 Bombardier CRJ900s and 3 CRJ700s, operating to 25 destinations.

The Saab aircraft will arrive from former Swiss regional carrier Darwin Airline, which was declared bankrupt in December 2017. It was partly owned by Luxembourg-based private equity fund (4K Invest," the owner of Adria Airways (ADR) (CEO) Holger Kowarsch said. In March 2016, restructuring specialist (4K Invest) completed a majority takeover of (ADR), the Slovenian flag carrier.

(ADR) transports 1.2 million passengers annually.

September 2018: Slovenia’s Adria Airways (ADR) has reported that >30% of flights in the 2018 1st half were wet-lease services for other operators. Unveiling operational figures for the 1H, (ADR), the Slovenian flag carrier said it transported 577,000 passengers, an increase of +8.6% over the same period last year. It flew close to 10,000 flights (up +2.4% on (1H) 2017), of which >3,300 were wet lease (ACMI) services. (ADR) said the latter figure was a “substantial” increase year-on-year,

October 2018: Visit Predjama Castle, Slovenia:

November 2018: "Adria Airways to Acquire 15 Leased SSJ100s, (MRO) Center" by (ATW) Maxim Pyadushkin (, November 27, 2018.

Adria Airways (ADR) signed a letter of intent (LOI) to acquire 15 Sukhoi Superjet 100s (SSJ100s) via a long-term lease arrangement and signed an (MOU) with Sukhoi Civil Aircraft Company (SCAC) to establish a joint (MRO) operation at Ljubljana Airport.

Deliveries are expected to start in the beginning of 2019. “During the past 2 years we were analyzing the SSJ100 type and came to the conclusion that all the technical and operational characteristics of this aircraft would suit best for our strategic goals,” Adria (CEO) Holger Kowarsch said, adding the introduction of the Russian aircraft would enable (ADR) to offer more aircraft for aircraft, crew, maintenance and insurance (ACMI) service.

(ADR) currently operates 3 Airbus A319s, 9 Bombardier CRJ900LRs, 3 CRJ700ERs and 6 Saab 2000s. All A319s, 1 CRJ700 and half of the Saabs are used for (ACMI) services that are being considered as 1 of the key development directions by (ADR).

(ADR) will become the 2nd European operator for the Superjet SSJ100. The launch customer for the region was Irish-based CityJet, which has operated the type since 2016. 4 of its 7 SSJ100s are wet-leased by Brussels Airlines (DAT)/(EBA) through March 2019. (DAT)/(EBA) refused to prolong the lease because of the aircraft’s teething problems.

Superjet Russian manufacturer evidently wants to avoid such problems with (ADR). It has already agreed to set up a joint (MRO) center in Ljubljana Airport for better maintenance support. “That service platform will secure the operational reliability of SSJ100 aircraft in Europe,” (SCAC) president Alexander Rubtsov said.

The Superjet SSJ100 entered commercial operations in 2011 and was certified by (EASA) in 2012. In addition to Russia, the aircraft also operates in Europe, Mexico, Kazakhstan, and Thailand.

September 2019: "Slovenia's Adria Airways Grounds Flights Due to Shortage of Cash" by "Reuters," September 24, 2019.

Slovenia's Adria Airways (ADR) has canceled almost all of its flights for Tuesday and Wednesday, potentially affecting around 3,700 passengers, because it has been unable to access cash to continue flying, it said on September 24. "The company is at this point intensively searching for solutions in cooperation with a potential investor. The goal of everyone involved is to make (ADR) fly again."
(ADR) is the latest in a long line of small European airlines to run into financial trouble amid industry overcapacity, cut-throat competition and high fuel prices.

Travel firm Thomas Cook (GUE)/JMA) collapsed this week, while Germania (GER), Flybmi (BMA) and Iceland's (WOW) have all failed this year. Regional operator Flybe (BEE)'s sale to a Virgin Atlantic (VAA)-led consortium narrowly averted its collapse.

(ADR) said it would still operate a flight from Frankfurt to Ljubljana on February 24 and a flight from Ljubljana to Frankfurt on Febreuary 25, saying Frankfurt was its "most important hub".

However, it has cancelled 158 regular and charter flights to and from Slovenia, Netherlands, Turkey, North Macedonia, Montenegro, Albania, Germany, Switzerland, France, Belgium, Austria, Kosovo and Greece, affecting >3,700 passengers, (ADR) told "Reuters."

Slovenia's economy ministry said (ADR)'s problems would have a short-term impact on the country's economy, adding: "we expect that other carriers could in time fulfil the gap that could emerge after a possible bankruptcy of (ADR)." It also said that a thorough ownership, financial and business restructuring could help (ADR) to recover.

Slovenian officials have said (ADR) cannot receive state aid, as that would be against European Union (EU) rules.

Among passengers stranded at airports were Poland's national male volleyball team, which is due to face the Slovenian team in a semi-final match of the European Championships in Ljubljana. Polish Prime Minister Mateusz Morawiecki said on Twitter that a Polish government plane would fly the team to Ljubljana after its (ADR) flight from Amsterdam to Ljubljana was canceled.

Slovenia sold (ADR) to German investment fund "(4K) Invest" in 2016. Since then, the company has sold all its planes and has been using leased ones to fly to several European destinations. "The company deeply regrets the situation and apologizes to all its passengers and partners," (ADR) added.

October 2019: Bankrupt Adria Airways Leaves the Star Alliance" by (ATA) Kurt Hofmann (, October 4, 2019.

Insolvent Slovenian carrier Adria Airways (ADR) left the Star Alliance (SAL) on October 2, becoming the 2nd member airline in a month to leave (SAL) because of bankruptcy. (ADR) filed for bankruptcy on September 30 and suspended all flights.

(ADR)’s exit from (SAL) follows Brazilian airline Ocean Air Linhas Aéreas S/A, formerly doing business as Avianca Brasil, which left (SAL) on September 1. The São Paulo-headquartered airline filed for bankruptcy protection on December 11, 2018.

“This has been a regrettable development following 15 years of (ADR)’s membership in the Star Alliance (SAL),” the alliance said.

(ADR) served around 20 scheduled destinations from its main hubs in Ljubljana (Slovenia), Pristina (Kosovo) and Tirana (Albania).

Meanwhile, Star Alliance (SAL) partners Brussels Airlines (DAT)/(EBA), Lufthansa (DLH), (LOT) Polish Airlines and Swiss International Air Lines (SWISS) (CSR) plan to increase their presence in Ljubljana.


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ADR-CRJ200 - 2015-08.jpg
ADR-CRJ900 - 2012-03
ADR-CRJ900 - 2018-04.jpg

October 2019:

0 737-500 (CFM56-3) (UR-GAS), (UKR) WET-LEASED 2006-03. RETURNED.

0 737-53C (CFM56-3C1) (1894-24825, /90 D-ACIN), (RUS) WET-LEASED. RETURNED. 108Y.

1 A319-100 (V2500), (DEA) LEASED 2010-05. 2 CLASS, 135 PAX.

1 A319-111 (1000, S5-AAX), EX-(F-GRHD), (SASOF) AVIATION LEASED 2015-05. 135Y.

2 A319-132 (V2524-A5) (4282, /10 S5-AAP; 4301, /10 S5-AAR), AERVENTURE LEASED. 135Y.

1 A320-211 (V2500) (191, S5-AAT - - SEE PHOTO - - "ADR-A320-211-2011-10"), 50TH ANNIVERSARY RETROJET LIVERY.

0 A320-231 (V2500-A1) (043, /88 S5-AAA; 113, /90 S5-AAB; 114, /90 S5-AAC; 444, /93 S5-AAS), 1 LEASED TO (MLT), 1 LEASED TO (BCM). 043; WET-LEASED TO (AQY) 2006-06. 114; WET-LEASED TO (BRM) 2009-10. RETURNED. 180Y.

0 A320 (V2500) (414), RETURNED (TSD), WET-LEASED TO (AFA) 2000-08.

1 ATR42-300.

1 ATR72-200.

1 BOMBARDIER CANADAIR CRJ-100ER (CL-600-2B19) (CF34-3A1) (7032, /94 S5-AAH, 2003-01), 50Y.

1 BOMBARDIER CANADAIR CRJ-200LR (CL-600-2B19) (CF34-3B1) (7166, /97 S5-AAD; 7170, /97 S5-AAE; 7247, S5-AAI NTU; 7248, S5-AAI, 2004-09 - LOGOJET "HIT STARS CASINOS & ENTERTAINMENT" - SEE PHOTO; 7272, /98 S5-AAF; 7384 /00 S5-AAG; 8010, S5-AAJ, 2005-01). 2 LEASED TO (JAT) 2006-06. 8061; RETURNED TO AIR NOSTRUM 2008-09. 48Y.


9 BOMBARDIER CRJ900 (CL-600-2D24) (CF34-8C5) (15057, S5-AFA, 2017-07; 15128, /07 S5-AAK; 15129, /07 S5-AAL; 15207, /08 S5-AAN; 15215, /09 S5-AAO), 81Y.



2 CL-600-2D24 (15129, S5-AAL 5/07; 15215, S5-AAO, 2009-01).

1 EMB-135ER.

0 F 100 (11340, YR-FKA), RETURNED TO CARPATAIR 2008-09.

2 LET L-410 UVP-E.

1 CESSNA 441 CONQUEST II (0150, /80).


6 SAAB 2000.



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