Adria Airways suspends flight operations due to lack of funds

Slovenian airline Adria Airways says all of its flights through Wednesday have been canceled due to a lack of funds, and its future is uncertain. It comes just hours after Thomas Cook, the world’s oldest travel agency, collapsed.

The airline said in a brief statement that all flight operations on Tuesday and Wednesday were canceled. “[The] decision to temporarily cease flight operations is a consequence of currently unsecured access to fresh cash which [the] airline needs for further flight operations,” it said.

The statement added that the airline is searching for solutions in cooperation with a potential investor, but it’s unclear if flights will resume on Thursday. “[The] goal of everyone involved is to make Adria Airways fly again and that ceasing of operations is indeed temporarily,” it said.

The news comes less than a week after Adria Airways and the Slovenian Airline Pilots’ Association signed a new collective agreement, staving off a strike which was originally announced for late September and early October.

Adria Airways was founded in 1961 and provides scheduled and charter flights to and from a number of European destinations. Its fleet consists of 20 aircraft, including three Airbus A319s. It is also a member of the Star Alliance.