Adria Airways, the national airline of Slovenia, has filed for bankruptcy and cancelled all flights.
The announcement on Monday followed the suspension of almost all of the airline’s flights last week.
“Bankruptcy proceedings were initiated by the management of the company because of the company’s insolvency,” it said in a statement.
“The court has a three-day statutory period within which it shall decide on the opening of bankruptcy proceedings.”
Adria has so far cancelled more than 400 flights affecting more than 15,000 passengers, according to Reuters.
It is owned by German investment firm 4KAdria and is a member of the Star Alliance network.
Its alliance partner Lufthansa had been operating some flights between the Slovenian capital Ljubljana and its hub in Frankfurt. A Lufthansa spokesperson said it would continue to organise flights to cover connections that Adria was flying for it, though a long-term plan was not in place.
Reuters also reports that Slovenia’s Economy Minister Zravko Pocivalsek has said the government is considering establishing a new airline to improve the country’s international connections.
Adria was founded in 1961. Its fleet of 20 aircraft flew from Ljubljana to more than 25 cities in Europe.
September also saw the collapse of French carriers XL Airways and Aigle Azur, and the UK’s Thomas Cook.
At the start of the month, defunct airline Avianca Brasil formally left Star Alliance.