Siberian court ceases bankruptcy case against prominent UTair airline
MOSCOW, March 2 (RAPSI) – The Khanty-Mansiysk Region Commercial Court on Wednesday ceased a bankruptcy case against troubled UTair airline, RIA Novosti has reported.
Motivational part of the court’s ruling is unavailable at the moment.
The motion to cease the case was filed by Pallada Asset Management. In December, UTair had to pay 178 million rubles ($2.3 million) to the company in accordance with a court’s ruling.
UTair airline faced financial troubles in the past but by the end of 2015 has completely restructured its debt estimating 160 billion rubles ($2.1 billion) and prolonged its loans.
UTair company is a part of the group sharing the same name. The group is providing a range of services related to air travel like maintenance of the aircraft units, training of the personnel, air travel services.