newstodate.aero
Mar 26, 2009 (newstodate): Under pressure from decline in demand for air transportation and lack of financial strength, 20 percent of Russia's airlines may go out of business in 2009.
According to Russian press interviews with the country's minister of transportation, this would mean that some 35 airlines of various size may be forced to declare bankruptcy in 2009, leading to a continued consolidation in Russia's commercial aviation industry.
So far into 2009, passenger volumes in Russia have declined by 16.7 percent, while cargo volumes slipped by 34.7 percent, compared to last year.
Since January 1, 2009, eight Russian carriers have ceased operations, including Interavia, Omskavia, Dalvia, Krasnoyarsk Airlines, Domodedovo Airlines and Tesis.
The number of Russian airlines has thus been reduced to 167 against 175 by the end of 2008.
According to Russian press interviews with the country's minister of transportation, this would mean that some 35 airlines of various size may be forced to declare bankruptcy in 2009, leading to a continued consolidation in Russia's commercial aviation industry.
So far into 2009, passenger volumes in Russia have declined by 16.7 percent, while cargo volumes slipped by 34.7 percent, compared to last year.
Since January 1, 2009, eight Russian carriers have ceased operations, including Interavia, Omskavia, Dalvia, Krasnoyarsk Airlines, Domodedovo Airlines and Tesis.
The number of Russian airlines has thus been reduced to 167 against 175 by the end of 2008.