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Russian government mulls aid for ailing airline UTair

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09 December 2014

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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
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Can they afford it in the their present circumstances?
jojnjo, Dublin
09/12/2014 23:38
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