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Russian government mulls aid for ailing airline UTair

By The Siberian Times reporter
09 December 2014

Carrier which is vital to Siberian towns and cities faces bankruptcy lawsuit as debt claims mount.

UTair - the third biggest airline in Russia - has embarked on a programme to cut is costs by around $180 million within a year. Picture: Utair Corporate

The Russian government is considering financial aid to UTair, said Deputy Prime Minister Arkady Dvorkovich. 'We are discussing this,' he said.

The airline's problems come amid a serious fall in the value of the rouble amid sinking oil prices and Western sanctions. Alfa-Bank submitted four new unpaid debt claims, with one claim exceeding $405,000, against UTair and UTair-Leasing to the Moscow Arbitration Court. 

This follows earlier claims for $11.8 million in unpaid debt. 

Several courts have registered a bankruptcy petition against the airline by Avialeasing, as well as debt claims by YUGRA SPb, airports of Yekaterinburg, Perm, and Samara.

UTair - the third biggest airline in Russia - has embarked on a programme to cut is costs by around $180 million within a year.

Based in Khanty-Mansiysk, the airline is a crucial lifeline to several Siberian regions.  

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Comments (2)

I think it's a good way to help the people in the area. Is it limited to just Russian citizens?
Roy Brewer, Bedias,Tx.USA
29/01/2015 18:10
0
0
Can they afford it in the their present circumstances?
jojnjo, Dublin
09/12/2014 23:38
0
0
1

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