MOSCOW, March 10 (RAPSI) - The Ninth Commercial Court of Appeals on Thursday upheld a lower court’s decision to collect over 3.4 billion rubles ($47 million) from Transaero air carrier in favor of RN-Aero, Rosneft subsidiary specializing in supplying fuel for the air travel, RAPSI reports from the courtroom.

RN-Aero filed a lawsuit to recover debt under an aviation fuel supply agreement signed in 2014.

Other companies controlled by Rosneft, such as Russian Regional Development Bank filed lawsuits against Transaero estimating 4 bln of rubles ($55.3 million).

Transaero, one of the largest private airlines in Russia, found itself unable to pay its debts estimating 250 bln rubles ($3.4 billion). Government-approved plan of transferring 75% of company’s shares to Aeroflot failed. Transaero may face bankruptcy from some of the creditors. Its problems result in a large number of flight cancels and delays.

In October, Sberbank and Alfa Bank filed bankruptcy petitions against the troubled airline.  In November, VTB joined the bankruptcy lawsuit against Transaero.

The Commercial Court of St. Petersburg and Leningrad Region initiated a bankruptcy procedure against Transaero on December 16.