Adria Airways successfully recapitalizes, retires its retrojet

Adria Airways (Ljubljana) has successfully reorganized and recapitalized.

The airline issued the following statement:

“At its 69th meeting, the Management Board of Adria Airways adopted a statement on the implementation of measures associated with the Agreement on Financial and Commercial Restructuring of Adria Airways d.d., in which it determined that the company has fulfilled all the measures it was bound to carry out in line with the Agreement. Alongside other measures, one condition for carrying out the recapitalization was the conclusion of a new entrepreneurial collective agreement between the company and unions. The new entrepreneurial collective agreement has been signed by all the unions except for the Association of Air Cabin Crews of Slovenia. In line with the collective agreements act, the entrepreneurial collective agreement applies to all employees in the company, irrespective of their membership in a specific union.

This signals the conclusion of the company’s financial rehabilitation, and the laying of foundations for further commercial and human resources rehabilitation.”

Adria Slide Show: CLICK HERE

Copyright Photo: Nik French. Probably as a result of the reorganization, the company retired the pictured retrojet from the fleet on October 3, 2011. Please click on the photo for the full story.