Unnamed Russian Investors Interested in Reviving Adria Airways

By , 15 Jan 2020, 13:35 PM Business
Making a comeback? Making a comeback? Wikimedia - Kambui CC-by-2.0

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With Adria Airways assets due to be auctioned next week, at 11:00 on Thursday 23 January, Ex-Yu Aviation reports that a group of unnamed Russian investors are interested in purchasing the collapsed airline’s Air Operators Certificate (AOC) and reviving the name to run services within Europe, using Sukhoi Superjet 100 aircraft. As reported earlier on TSN, the starting price for Adria’s assets, which include various training manuals in addition to the AOC, has been set at €45,000. However, a new owner would need to take on a number of obligations that remain after the carrier’s bankruptcy.

The airline’s previous owner, the Luxembourg-based German fund 4k Invest, purchased Adria from the Slovenian government in 2016 for €100,000. Since Adria’s collapse in 2019 an investigation into the role of 4K Invest and possible mismanagement has been launched, although the fund’s decision to liquidate its assets is complicating this.

While the closure of the national carrier lead to a 60% fall in Slovenia’s international seat capacity, a number of airlines have stepped in to fill the more profitable gaps in the schedule, while the Slovenian government is said to be in talks with regard to subsidising some other routes.

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