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Slovenia's former national airline faces receivership

LJUBLJANA, Slovenia — Slovenia’s government says receivership is the only option for troubled former state carrier Adria Airways, which has suspended most of its flights amid financial woes.

Economy Minister Zdravko Pocivalsek on Monday criticized the German company that owns the airline, saying that Adria Airways’ losses were higher than previously expected.

Pocivalsek says that Slovenia’s government cannot intervene in the work of the company because of its private ownership, even though its grounding affects the small Alpine nation’s economy and tourism industry.

He adds that Slovenia could instead set up a new national carrier after the declared receivership, suggesting Adria Airways would need 28 million euros ($30 million) to restart normal operations.

Adria Airways was sold in 2016 to German investment fund 4K Invest.

The Associated Press