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Yet another bankruptcy petition against UTair airline dismissed

13:17 30/12/2019

MOSCOW, December 30 (RAPSI) – The Commercial Court of Khanty-Mansi Autonomous Area has dismissed a bankruptcy petition against UTair airline submitted by Inter Company, the court decision reads on Monday.

The claimant has been denied its demand to introduce administrative receivership procedure with respect to the airline according to the ruling. 

This October, the Commercial Court of West Siberian District rejected an appeal filed by Yugan-Union Card company against dismissal of its bankruptcy claim against UTair airline by the Commercial Court of Khanty-Mansi Autonomous Area by its July decision, upheld in September by an appeals court.

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.

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Yet another bankruptcy petition against UTair airline dismissed

13:17 30/12/2019 The Commercial Court of Khanty-Mansi Autonomous Area has dismissed a bankruptcy petition against UTair airline submitted by Inter Company.
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