Court has ordered recovery from travel company to pay Transaero $5.9 million - RUSSIAN AVIATION

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Court has ordered recovery from travel company to pay Transaero $5.9 million

Russian Aviaton » Friday March 15, 2019 13:28 MSK

Transaero Airlines Boeing 777-300 | © Paul Spijkers | photo from wikipedia.org

The Moscow Commercial Court has ordered recovery of $5.9 million from Tez Tour Ltd travel company in favor of insolvent Transaero airline, at one time Russia's second-biggest air carrier, according to court records. This reported by RAPSI.

Details of the dispute have not been disclosed.

Transaero found itself unable to pay its debts valued at 250 billion rubles (about $4 billion) in 2015. The 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 bankruptcy procedure against Transaero on December 16.

On September 13, 2017, Transaero was declared bankrupt.

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