MOSCOW, August 12 (RAPSI) – The Commercial Court of St. Petersburg and the Leningrad Region has postponed hearings in the bankruptcy case against troubled Transaero airline till November 23, RIA Novosti reported on Friday.

On July 26, the court ruled that establishment of supervision procedure at the airline is lawful.

Transaero found itself unable to pay its debts estimating 250 billion rubles ($3.6 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, 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.

A range of companies filed lawsuits against Transaero demanding payment of debts. Thus, foreign companies related to VTB Leasing demand more than 145 million dollars, companies related to Rosneft demand more than 4 billion rubles ($58 mln), the State Corporation for Air Traffic demands more than 700 million rubles ($10.2 mln). Several lawsuits were filed by the companies related to the airports.