newstodate.aero
Apr 24, 2012 (newstodate): Russian low-cost carriers face a challenging business environment.
Second to enter the low-cost business in Russia was Avianova that was set up in January, 2009, by the Russian investment group A1 Group, launching flights on August 27, 2009 from Moscow Vnukovo Airport with two leased, ex-US Airways Airbus A320 aircraft on a route network comprising seven domestic destinations.
Now the Moscow Arbitration Court has declared the carrier bankrupt due to a growing debts pile.
The last flight was performed on October 10, 2011, and two days later the carrier's AOC was revoked.
At the core of airline's plights were increasing disagrements between the two owners, the Russian investment company A1 and the US investment fund Indigo Partners.
Russia's first low-cost airline, Sky Express that performed its first flight on January 29, 2007 faced a similar fate, folding its wings in bankruptcy on October 29, 2011.
Second to enter the low-cost business in Russia was Avianova that was set up in January, 2009, by the Russian investment group A1 Group, launching flights on August 27, 2009 from Moscow Vnukovo Airport with two leased, ex-US Airways Airbus A320 aircraft on a route network comprising seven domestic destinations.
Now the Moscow Arbitration Court has declared the carrier bankrupt due to a growing debts pile.
The last flight was performed on October 10, 2011, and two days later the carrier's AOC was revoked.
At the core of airline's plights were increasing disagrements between the two owners, the Russian investment company A1 and the US investment fund Indigo Partners.
Russia's first low-cost airline, Sky Express that performed its first flight on January 29, 2007 faced a similar fate, folding its wings in bankruptcy on October 29, 2011.