Airlines Adria Airways to get 10 Million Euro capital injection
- Adria Airways
Adria Airways stated on its website, that it will be recapitalized by its shareholder 4K Invest fund with a cash contribution of more than 10 million euros.
In 2016, the Slovenian carrier Adria Airways was acquired by the German 4K Invest fund. Since then, the carrier almost doubled its fleet and expanded its network. Following media reports of financial difficulties, the airline has now announced that it will receive new money from investors at the end of the year.
The financial injection is intended to ensure the long-term operation of the airline. Rising fuel prices and fierce competition also present Adria Airways with major challenges.
"Our plans with the Slovenian airline are long-term and we want the company to grow and develop in the future. We see huge potential in the company, with our priority being to stabilize our operations and restore the trust of our passengers. There is a lot of hard work ahead of us, but we are confident that we will succeed." said Holger Kowarsch, Managing Director of Adria Airways.
Adria Airways operates a fleet of 21 aircraft, including three Airbus A319, three Bombardier CRJ700, nine Bombardier CRJ900 and six Saab 2000. Beside own operations from its hubs in Ljubljana, Pristina and Tirana, Adria Airways focuses on the ACMI charter market. In the next few days, the airline will also start flights from its new German base in Paderbon Lippstadt.
The carrier wet-leases several aircraft to its Star Alliance partners Lufthansa, Swiss International Air Lines, Austrian Airlines and Luxair. During the upcoming winter season, all three A319 will operate flights for Lufthansa from its hub in Frankfurt/Main.
Source © Adria.si