Two Adria jets repossessed


The Slovenian Civil Aviation Agency has confirmed that two of Adria Airways' Bombardier CRJ900 aircraft, registered S5-AAU and S5-AAV have been repossessed by Trident Aviation, over outstanding debt. The regulator noted the two jets will be removed from the country's register. Up until this point, Adria had twelve Bombardier aircraft in its fleet, although half of them are being wet-leased through ACMI contracts to other airlines. The Slovenian carrier itself does not own any planes. Among its CRJ900 fleet, four are under contract until 2022, another two until 2026 and 2027, while one of the jets is being leased through a pay-by-the-hour agreement, where Adria pays its dues to the lessor based on aircraft utilisation. The remaining two are under long-term leases.

Adria has been beset by delays, flight cancellations and last-minute merging of flights as it seeks to find a strategic partner which would provide much needed capital. The airline is expected to operate 22 flights out of Ljubljana this Friday, three of which are charters. The Slovenian Civil Aviation Agency previously said it is reviewing Adria’s business and will conclude whether the carrier should be reissued an operating license by the end of October, which is standard procedure. Adria is believed to have registered a loss of over ten million euros during the first half of this year. Its passenger numbers have also declined, and the company has amassed debt of sixty million euros to creditors.

The Slovenian government previously said it was seeking to modify the country’s aviation legislation which would enable it to subsidise a select number of routes currently operated by Adria Airways, in case of the latter's demise. “It would be four or five destinations, not all of Adria’s flights”, the Slovenian Deputy Prime Minister and Minister for Infrastructure, Alenka Bratušek, said recently. The Slovenian government previously noted it had developed contingency plans in case Adria discontinued flying and could "no longer connect Ljubljana with European capitals”. It added, “This is all the government can do at the moment".




Comments

  1. Replies
    1. yupp 60mil€ is impossible task for any exyu company

      judging by 2018 balance sheet, debt will also be the problem for at least one more carrier very soon.

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    2. Yes, same issue with piling debts over year and becoming larger then equity.
      But for some reason some media avoid that subject...

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  2. Wouldn't want to be an Adria passenger today.

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  3. And it was reported that CEO is going around Slovenian companies asking them not to request payments from Adria otherwise it will go bankrupt.

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  4. Does anyone know the registration of the two CRJ900s in question?

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    Replies
    1. According to Slovenian press it's two planes based in Munich. These are actually operating for Lufthansa.

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    2. That would mean S5-AAU and S5-AAN.

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    3. If you look at flightradar, these two planes had their last flights on 18th September. They haven't flown since apparently.

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    4. Yes it seems like those are the two. Has Lufthansa cancelled any flights?

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    5. Given that the summer season is more or less over, I am sure LH has spare capacity to replace these two CRJs.

      S5-AAU last flight MUC-STR-MUC 18.09.2019
      A5-AAN last flight MUC-TSR-MUC 18.09.2019

      Hopefully they manage to sort out their delays as they should rather be getting ready for the massive expansion announced for the winter season.

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    6. It's S5-AAU and AAV

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    7. S5-AAV has not flown since yesterday as well.

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    8. It might look like a smart move actually if this is done intentionally. Lets assume that LH agrees on this, finds replacement in its fleet and JP reduces its operating costs, which will help JP survive following period. Lets wait and see if this is the case.

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    9. @Anon 12:09: What?

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  5. So basically CEO confirmed that creditor plans to take away the planes. I'm not holding my breath that 4K negotiators will be able to delay it.

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  6. Can they be saved? Is there anyone interested in buying them

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    Replies
    1. Their last chance was Sukhoi last year but that fell through. If they had some savior, they wouldn't be going around begging creditors not to request money.

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    2. @Anonymous 20 September 2019 at 08:40:

      According to rumors, Falko Regional Aircraft.

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    3. But Falko is actually the one pulling back those two aircrafts. Strange.

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  7. Best solution would be for Adria to declare bankruptcy and then for the government to set up a new airline under the same name.

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    Replies
    1. The government would actually have to buy the brand name, since it is owned by 4k.

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    2. Again, Bratusek should keep her mouth shut! She and Miro were responisble for the sale of Adria to incompetent bunch of crooks with ZERO aviation experience.

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    3. The Slovenian government won't set up any new airline. They said what they will do - subsidies a few routes (most probably to Germany, Austria and Switzerland).

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    4. @8.45
      According to Bratusek, she asked for 4K to be audited but no one listened to her. lol

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    5. Oh, yeah. I'm sure she's being truly honest and not trying to gain some political points. She's an illiterate and incompetant fool. Same as Miro, albeit his English is a bit better.

      It's disgusting they are trying to subsidize foreign airlines and not their own national carrier. All because the voting public wants to see Adria's demise. And they need their votes.

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    6. @Anonymous 0845h
      +1000 you got it to the point

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  8. Just a thought.. Is Wizzair's recent withdrawal from Slovenian market (as they said just over the winter) just coincidence or are they just preparing to take over some slots after Adria will go in bankruptcy, which I guess will happen very soon..?

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    Replies
    1. Possibly. It makes no sense for them to withdraw now.

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    2. LJU doesn't operate on the slot system and I doubt W6 would use Adria's slots from VIE, FRA, BRU etc. to fly to Slovenia.

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    3. Does LJU have any slot restrictions and do slots at LJU actually have any value? I mean its not like the airport has 15 million pax or more and is also not operating at overcapacity.

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    4. No slots in LJU.

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  9. Really depressing

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    Replies
    1. This is still nothing compared to what will follow. Then it will really really get depressing.

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  10. They are already short on aircraft. This would be a disaster.

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  11. Hopefully they manage to negotiate something with creditors but even if they do, the situation is bleak.

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  12. Two planes are grounded since 2 days ago.

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  13. It is sad to see this happening to what was once a good airline with a great tradition.

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  14. Airfares in Slovenia will skyrocket now.

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    Replies
    1. Not if LCCs step in.

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    2. Will be interesting to see what LH does with Slovenia. Will they enter the market with their own brand or will they hand over the market to EW. KL is using Transavia for LJU flights so we might see the same from LH.

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    3. I think LH would leave Slovenia to EW most likely.

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    4. Yeah, ADRIA kept them low so far.

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    5. Seems like a rational move, OS and LX would probably have their own flights. That said, all of them have planes larger than what JP used to send so let's see what they do with frequencies. Especially OS which is slowly retiring their Q400.

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    6. LH group shall eat sh.... I blame them too. Since 2 years they saw whats happening with JP and with their hub flights, negative press also abroad on JP, they got warnings on JP, they did not move. They did not care for their SLO transit passengers, nor for star alliance member passengers. Fuck that mentality

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    7. I don't understand, what you think LH group should be doing? Giving money to 4k to run Adria because they are in Star Alliance?

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    8. I think he means that LH Group should have done what AF-KL did, stop relying on JP and enter the market with their own metal.

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    9. Ah, ok, I see. I was not reading carefully...
      Maybe they didn't want to "shoot" alliance member...

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    10. I suppose JP was also cheaper for them.

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    11. Thanks Nemjee

      Yep just one flt of the group should hve been implemented for SUTT 2018 to cover at least one reliable LH group hub route

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    12. It's funny how AF-KL seems to be the best prepared when it comes to JP's demise. They really have a chance of breaking the Star Alliance stronghold in Ljubljana.

      Other who profit as well are SU and TK regarding Asian passengers and JU to a smaller extent in terms of Balkan and Middle Eastern passengers.

      Star Alliance relied on the unpredictable JP and now they are suffering from the consequences.

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    13. Aman nebitan im je ceo aerodrom. Statisticka greska. I da ga zatvore ima okolo dovoljno istih.

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    14. Можда им Словенија није најбитније тржиште али прошле године било је 395.490 путника ка базама ЛХ Групе. Верујем да им не би тек тако препустили овај број путника конкуренцији.

      FRA 145.782
      ZRH 103.142
      MUC 84.457
      VIE 62.109

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    15. Are these numbers one way or return?

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    16. They are total so I suppose return.

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    17. Sta ne razumes da su oni samo 350K na 100M putnika?

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    18. Да размишљају као ти не би данас имали 100 милиона путника. ;)

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    19. For example VIE 62109:4 flights average a day (2 return):365 days p.a. = 43 pax per flight.
      What LCC would fly even if they could boost loads by +50% if they offer cheap tix?

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  15. Well at least the 4K executives are fighting to save JP. I mean I know they are the ones that brought the company to this state but still. They could have thrown in the towel a long time ago.

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    Replies
    1. The sooner they do, less money passenger and suppliers lose.

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  16. Hoping for the best, preparing for the worst.

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  17. And the end of the month is coming when a lot of payment are due. I think this is it.

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  18. I find it shocking that Adria has not made any press statement in months, especially with all of this going on.

    ReplyDelete
    Replies
    1. They did when they signed collective agreements with pilots.

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    2. What are they supposed to say? We are broke?

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    3. They would say it's the media's fault.

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  19. Lots of today's flights have delays of over 1 1/2 hours.

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    Replies
    1. Oh and this for flights that are scheduled for afternoon.

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  20. Will they pull through?

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    Replies
    1. All things are pointing to no.

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    2. No, even if they did, it would be on borrowed time. People will be even more hesitant to buy tickets, the work force will start to leave and money will dry up again. It's surprising that they're still allowed to sell tickets to be honest.

      On the ACMI side, it appears that the Luxair contract hasn't been renewed next year, LH have two Adria planes ground and Swiss have cancelled 18 Lugano flights because the Saab isn't flying.

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  21. The beginning of the end.

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  22. A great opportunity for Wizz Air to base 2 aircraft initially.

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    Replies
    1. Hope so. Which routes could they launch?

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    2. Two planes would be just too much, Slovenia doesn't have a large diaspora.

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    3. True, but they'd have a whole catchment area of over 1 million PAX to themselves. Fly to all the usual destinations at cheap prices. With Adria gone, maybe LJU charges will be more favourable.

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    4. Aren't LJU charges already quite favourable?

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    5. You’re delusional if you think LCC will come to Ljubljana to cover Adria routes.

      They’re interested in profits only and Ljubljana isn’t a profitable place to be with so much competition from surrounding airports for Slovenians who hate to spend more than €20 on an airfare

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    6. LJU is actually notoriously expensive.

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  23. What will LJU do now?

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    Replies
    1. They seem do be doing rather well, even with all of Adria's problems.

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  24. LJU should be playing this on repeat today:

    https://www.youtube.com/watch?v=wVyggTKDcOE

    ReplyDelete
  25. OU could take their CRJ now

    ReplyDelete
    Replies
    1. If OU wanted to take some CRJ they could probably find it anyway, no need to wait for this 2.

      What just cross my mind, if potential bankruptcy of Adria will cause additional attention from EU/competitors related to state aid (ie. recapitalization) of OU...

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    2. OU is on a similar path as JP.

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  26. where is that guy that kept talking "fake news" all the time in the last 2-3 days? would like to know if this news is also fake

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  27. Well, I am surprised they managed it this far away. If I would be JP employee, I would have polish my resume long time ago...

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  28. Can someone explain to me how today's FRA flight is operated by the Luxair CRJ700? I thought the partnership was still valid.

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  29. S5-AAU and S5-AAV reposesed by Trident Aviation yesterday 19 Sept 2019- source CAA Slovenia.

    ReplyDelete
  30. Who would have thought that Germans would bankrupt Adria.

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    Replies
    1. Germans also bankrupted Air Berlin and are about to bankrupt Deutsche Bank. So it's not like they are Gods when it comes to business.

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  31. Well now we know that winter schedule they planned was a sham.

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  32. Will they make it by Monday?

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  33. Hmm I criticised Adria a lot but I feel kind of sad for them to go, especially all the people working there.

    ReplyDelete
    Replies
    1. People working there must acknowledge that they are no different from preople working anywhere else, today you have a job and tomorrow you don't know. They are amongst the luckiest anyway, because any other company in bankruptcy like this would have sinked years ago.

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    2. U Nisu je osujecena priprema teroristicke akcije na aerodromu. Policija je zaplenila PVO raketu.

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  34. Third plane gone... AAL

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    Replies
    1. Was it the one operating for LH? I wonder if LH made a deal with the leasing company for them to take them over.

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    2. It was parked at LJU and taken to MST two hours ago

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    3. How? AAL was sitting there without engines for months? Got fixed recently?

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    4. According to FR24, S5-AAL flew today (20.09) from LJU to Maastricht. It departed LJU at 15.30.

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  35. A very sad end for what was once one of Europe's leading Airlines.

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    Replies
    1. one of the leading airlines?

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    2. Yes. Leading. They were the first ex-yu airline to have transatlantic flights to North America with DC-6 and later DC-8. They were one of the first airlines in Europe to introduce A320. They flew to exotic destinations like Seychelles, had scheduled flights in addition to their major charter business. They competed with JAT Yugoslav on domestic ex-yu flights They were reliable and innovative airline with very high level of in flight service. They were if not leading at least very very very good small airline with tradition and style. But obviously the story came to an end. And I am very sorry about it. I will always remember Adria, its quality and its people. RIP.

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    3. "They were the first ex-yu airline to have transatlantic flights to North America"

      How many private airlines operated in that era in Yugoslavia?

      "They competed with JAT Yugoslav on domestic ex-yu flights"

      I wouldn't call thst competition, as both airlines had the same owner. It's like you would say BA competes with Aer Lingus or Ryanair competes with Laudamotion.

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    4. Then you should be happy JU is (almost) back to where it was.

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    5. You have no idea what are you talking about. Yugoslavia was not Eastern Block. It was country with quite successful political model combining the best from East and West similar to Scandinavia. Yugoslavia had MARKET ECONOMY. Entities WERE NOT STATE OWNED and had own professional managements and they own development plans independent from the "state" and "party". Currently we are going trough historical revisionism of ex-yu model, led by croatian president, which obviously is successful according to your post, and which goal is to place ex-yu "behind the iron curtain", where it hadn't been, and to forget about its economical and political model which represent potential danger for today's "liberal" model which is day by day closer and closer to slavery. Btw Yugoslavia had 4 airline companies : JAT,, Adria, Aviogenex and Pan Adria, later Transadria, which went into bankruptcy and which is the proof to you that the model was market economy.

      Delete
  36. Game over ?


    https://www.tportal.hr/biznis/clanak/slovenska-vlada-nece-spasavati-adria-airways-od-moguceg-stecaja-20190920

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  37. I do not know what's going on but another day when their morning flights are all delayed.

    BRU about an hour
    VIE expected at 08.20 so who knows when it might leave
    AMS next info at 08.30 so they don't even know when it will leave

    Basically MUC, FRA and CPH departed on time, A319, CRJ, CRJ.

    A319 is going to BRU, I wonder if it's because they are lacking planes?

    MUC-TSR which used JP birds had its morning flight cancelled yesterday, another switched to CityLine and another got the A319.

    What a mess it has caused.

    ReplyDelete

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