Dismissal of bankruptcy petition against UTair upheld
MOSCOW, October 29 (RAPSI) – The Commercial Court of West Siberian District has rejected an appeal filed by Yugan-Union Card company against dismissal of its bankruptcy claim against UTair airline, according to court records.
The Commercial Court of Khanty-Mansi Autonomous Area dismissed the petition in July. In September, the ruling was upheld by an appeals court.
The court has also adjourned a bankruptcy claim lodged by Inter Company against UTair until November 25.
Moreover, in June, the commercial court dismissed a demand of the Financial Company Flash Light Capital to introduce a supervision procedure against the air carrier.
In March, the court consolidated four bankruptcy petitions filed by the Financial Company Flash Light Capital, Hydropromenergostroy, Inter and Yugan-Union Card companies against the airline into a single case.
According to the managing director of Raiffeisen Bank Dmitry Sredin, UTair is expected to complete its continuing debt restructuring by the mid-2019.
In April, the air carrier said that it had cleared off a debt to the Financial Company Flash Light Capital, one of the applicants seeking bankruptcy of UTair.
According to the airline, it is in a regular dialogue with creditor banks.
UTair is ranked among Top 5 of Russian air carriers.