PRESS: Pobeda reports UTair financial problems to watchdog - Transport & Automobile - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

PRESS: Pobeda reports UTair financial problems to watchdog

MOSCOW, Feb 4 (PRIME) -- Russian low-cost airline Pobeda CEO Andrei Kalmykov has sent a letter to the Federal Air Transport AgencyТs Director Alexander Neradko saying that the cost of airline UTairТs net assets was negative as of late 2017 and the end of June of 2018, business daily Vedomosti reported Monday citing the letter.

УThe lack of finances represents a serious threat to flight safety, high risks of a sudden halt of operations and, as a result, mass violation of passengersТ rights, especially on the eve of the peak of the New Year traffic,Ф Kalmykov said in the letter sent in November 2018.

Kalmykov said that airlines are obliged to confirm the availability of sufficient financial resources and property to operate aircraft and maintain their airworthiness, and control of this is entrusted to Federal Air Transport Agency. He said he was sending the letter Уfor information.Ф

On December 20, 2018, UTair defaulted on a syndicated loan of 11 banks, Vedomosti said. The airline owes a total of 38.6 billion rubles on two syndicated loans and another 17.4 billion rubles to Sberbank, 4.9 billion rubles to units of Surgutneftegas, and 3.3 billion rubles on bonds. The company is holding restructuring talks with the syndicate of banks and makes no disruptions of flights.

Representatives of the Federal Air Transport Agency, UTair, and Pobeda declined to comment.

(65.6601 rubles Ц U.S. $1)


04.02.2019 09:46
Share |
To report an error select text and press Ctrl+Enter
Central Bank Official Rate
1W 1M 1Y
EUR 70.6997 -0.1527 22 nov
USD 63.8430 -0.1783 22 nov
Stock Market Indices
1D 1W 1M 1Y
rtsi 1454.27 +0.41 16:36 21 nov
micex 2941.03 +0.16 16:36 21 nov
Stock Quotes in RUR
1D 1W 1M 1Y
gazp 258.22 +4.12 16:18 21 nov
lkoh 6068.50 -0.26 16:18 21 nov
rosn 450.75 +0.09 16:18 21 nov
sber 237.22 -0.24 16:18 21 nov
MICEX Ruble Trading
1D 1W 1M 1Y
EURTD 70.6550 -0.0850 14:59 21 nov
USDTD 63.6775 -0.2725 16:18 21 nov