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Transaero seeks bankruptcy of Russian tour operator Natalie Tours

12:25 10/03/2017

MOSCOW, March 10 (RAPSI) – Transaero air carrier has filed with the Moscow Commercial Court a bankruptcy petition against tour operator Natalie Tours, according to court records.

The court registered the claim on March 9. Details of the case have not been disclosed.

Earlier, travel company filed an appeal with the Ninth Commercial Court of Appeals against a court order to pay $5.8 million to Transaero airline.

On November 11, 2016, the Moscow Commercial court granted the air carrier’s claim seeking to collect the debt from Natalie Tours. Under the contract signed between parties, the tour operator was to transfer earnings from transportation sales excluding fee to the plaintiff. Additionally, the court dismissed a counterclaim by Natalie Tours demanding to invalidate provisions of the agreement’s supplementary contract.

The travel company also filed a lawsuit to recover about 400 million rubles ($6.7 million) in damages from Transaero. However, the claim has been dismissed without prejudice.

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.

Natalie Tours, a tour operator on the Russian foreign tourist market, was founded in April 1992. In 2014, the company’s amount of business was estimated at $850 million.

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Transaero seeks bankruptcy of Russian tour operator Natalie Tours

12:25 10/03/2017 Transaero air carrier has filed with the Moscow Commercial Court a bankruptcy petition against tour operator Natalie Tours.
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