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Transaero Declared Bankrupt
September 14, 2017 18:43


The Arbitration Court of St. Petersburg and the Leningrad Region declared Transaero Airlines as a bankrupt. The decision was made after the report of the arbitration manager of the airlines was heard during the court session. 

It also follows from the documents that a bankruptcy procedure was introduced against the former air carrier, for which a meeting of creditors of Transaero was voted on September 6. 
Transaero, formerly the second largest airline in terms of transportation, went bankrupt because of the high debt burden (more than 250 billion rubles, including lease payments and 85 billion debts to banks) against the backdrop of falling demand for flights. The carrier went under the operational management of Aeroflot in early September 2015, and from October 26, the Russian Air Service canceled the operator's certificate.


Author: Anna Dorozhkina


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