Bad business results seem to have brought Dubrovnik Airline (DA) on the brink of bankruptcy, daily Slobodna Dalmacija writes.

DA's bankruptcy proceedings could start as early as November. The company is allegedly deep in debt and owes just the Dubrovnik airport 2.5 million kunas (334,000 Euros). In its golden days it had 200 employees, but now manages with only 30 or so remaining.

The majority shareholder Zeno Singer could not be reached for a comment on the alleged troubles facing the carrier.

The director of Dubrovnik airport Roko Tolic said he knew nothing about the bankruptcy rumours, but was hopeful they were not true. The carrier brings in about 10 per cent of the airport's traffic and Tolic said they would need to find a replacement if it was going under, the daily writes.

DA started with Dubrovnik-Marseilles flights in 2005.