Govt gives up on Adria, carrier files for receivership

The Kranj District Court is to decide on the proposal within three days. All Adria flights scheduled have been cancelled and the airline's operating license revoked.

The flag carrier, which was sold by the state to the German turnaround fund 4K Invest in 2016, wrote that the proposal had been filed due to insolvency and in line with legal provisions applying for such a situation.

The government also said earlier today that receivership was the only option, as the state was not ready to invest in or enter the carrier under the current owner and in its current financial state.

While suggesting that Adria would need EUR 28 million to start operating at least remotely normally again, Počivalšek pointed the finger at the "irresponsible" German owner, stressing Adria still had not published a revised financial statement for 2018.

Počivalšek said that the...