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Russian court finds Transaero airline in $67.7 mln debt to Otkritie bank

10:51 06/02/2017

MOSCOW, February 6 (RAPSI) – The Commercial Court of St. Petersburg and Leningrad Region has granted a claim filed by Otkritie bank asking to include four billion rubles ($67.7 mln) debt owed by Transaero airline in the creditors’ demands list, RIA Novosti reported on Monday.

In 2015, Transaero found itself unable to pay its debts valued at 250 billion rubles (about $4 billion). Government-approved plan of transferring 75% of company’s shares to Aeroflot failed. Its problems resulted in a large number of flight cancels and delays.

In October 2015, Sberbank and Alfa Bank filed bankruptcy petitions against the troubled airline. The Commercial Court of St. Petersburg and Leningrad Region initiated a bankruptcy procedure against Transaero on December 16.

On November 17 of this year, Transaero air carrier filed an application with the Commercial Court of St. Petersburg and Leningrad Region seeking to drop bankruptcy proceedings against it. Transaero managers submitted the company’s business resumption plan. The airline’s management headed by Director General Alexander Burdin analyzed alternatives which could make it possible to return money to creditors via relaunching the airline on the base of its assets.

FC Otkritie Bank, founded in 1993 is a head organization for the Otkritie Holding, which includes Bank of Khanty-Mansiysk, and Petrocommerce Bank.

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Russian court finds Transaero airline in $67.7 mln debt to Otkritie bank

10:51 06/02/2017 The Commercial Court of St. Petersburg and Leningrad Region has granted a claim filed by Otkritie bank asking to include four billion rubles ($67.7 mln) debt owed by Transaero airline in the creditors’ demands list.
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