newstodate.aero
Sep 30, 2019 (newstodate): One Russian carrier may be heading for a harsh landing in 2019: UTAir.
In 2019, so far two attempts have been made by the carrier's creditors to have the airline declared bankrupt as its mounting debts pile seems by far exceeding its ability to pay off in any foreseeable future.
While the airline has so far managed to ward-off the bankruptcy claims, a third attempt is now being made by the Russian bank MTS joining forces with other creditors.
One contributing factor to the carrier's financial plights is the conflict with Ukraine that has taken a toll on Russian carriers.
UTAir has suffered from the shortfall of traffic between the two countries and the need to bypass Ukraine on flights between Russia and the West.
With a fleet of 66 aircraft and orders placed for 30 Boeing 737 MAX aircraft, UTAir is Russia's 4th largest carrier after Aeroflot, S7 Airlines and Rossiya Airlines.
In 2019, so far two attempts have been made by the carrier's creditors to have the airline declared bankrupt as its mounting debts pile seems by far exceeding its ability to pay off in any foreseeable future.
While the airline has so far managed to ward-off the bankruptcy claims, a third attempt is now being made by the Russian bank MTS joining forces with other creditors.
One contributing factor to the carrier's financial plights is the conflict with Ukraine that has taken a toll on Russian carriers.
UTAir has suffered from the shortfall of traffic between the two countries and the need to bypass Ukraine on flights between Russia and the West.
With a fleet of 66 aircraft and orders placed for 30 Boeing 737 MAX aircraft, UTAir is Russia's 4th largest carrier after Aeroflot, S7 Airlines and Rossiya Airlines.