Russia’s aviation and tourism industry may suffer another blow if the motion to declare UTair bankrupt is upheld by the court.
UTair is burdened with debt, according to media reports, and has recently introduced a cost-cutting program.
UTair claims to be “a modern, first-class, competitive Russian airline conducting its activities on market principles and striving towards maximum transparency while aiming to provide a whole new level of passenger service.”
“The airline is built on a resilient business model designed to withstand the shocks of national and global economic contingencies by diversifying its resources across its key business areas,” runs a statement on its corporate website.
UTair ranks among the top three Russian airlines. In 2013, UTair transported almost 10 million passengers. UTair operates more than 150 fixed wing aircraft and performs flights to 110 destinations in Russia and abroad. The airline maintains its central hub at Vnukovo International Airport in Moscow, from where it performs more than 100 flights daily.
Author: Mikhail Vesely