Russian bank showers #3 airline UTair with lawsuits amid bankruptcy fears

Russian bank showers #3 airline UTair with lawsuits amid bankruptcy fearsFour new lawsuits, have submitted from the country’s top local provider UTair and UTair-Rental. This comes each day following a bankruptcy petition recorded stating UTair didn’t spend $67,000 for leased planes.

In late November, Alfa Bank charged the flight for an outstanding debt of $11.85 million in a Moscow court.

“We try to constructively repair all of the financial problems. Completing a bankruptcy case is just a common device utilized by the lenders which have a little quantity of debt ” Andrey Martirosov, to state, UTair boss said.

It’d submitted a bankruptcy case from the company, declaring the flight had didn’t spend the rents on the quantity of Tu-154-M airplanes.

The Russian government continues to be quick to respond, saying it’s “discussing” methods to assist UTair from its issue, based on Russia’s Vice-Premier Arkady Dvorkovich.

UTair has been charged for a lot more than $13 million.

UTair may be the next flight when it comes to individual traffic in Russia. The sum total debt of the organization is approximately $1.1 million (60 billion rubles). UTair income for your first 50% of 2014 came to $600 million (32.8 million rubles) with net revenue of $100,000 (5.5 million rubles).

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