Adria Airways (JP, Ljubljana) owner 4K Invest has committed to injecting additional at least EUR10 million euros (USD11.4 million) into the Slovenian flag carrier.
"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", Managing Director Holger Kowarsch said.
The capital injection comes shortly after reports had surfaced in the Slovenian media about the allegedly poor financial standing of the carrier. The Slovenian aviation authorities also ordered Adria Airways to recapitalise by the end of 2018. The airline denied that its liquidity was threatened.
4K Invest, which has owned Adria Airways since 2016, is separately under criminal investigation in Switzerland for allegedly syphoning funds out of Darwin Airline (F7, Lugano) and intentionally causing the airline to go bankrupt. The fund bought Darwin Airline in mid-2017; the airline subsequently collapsed in December 2017.
