The Russian government is stepping in to support UTair Airline with Russian prime minister Dmitry Medvedev signing a resolution guaranteeing RUB9.5 billion ($138.6 million) to help secure loans.
UTair faced financial difficulties in 2014 due to economic changes and a decrease in passenger demand. It reported a 2014 net loss of RUB61.66 billion ($1.09 billion). In February 2015, it was announced the carrier could apply for state guarantees. UTair has since launched a cost-cutting program, reduced its fleet and capacity, and sold some of its subsidiaries.
At the end of November, Russia’s Tyumen parliament agreed to a capital contribution of RUB4.289 billion ($64.8 million) to UTair as part of a plan to bail out the carrier. The Tyumen region’s decision followed an announcement by Russia’s Khanty-Mansi autonomous area that it approved a RUB11.5 billion capital injection to “support the regional airline routes development steadiness.”
Dutch flag carrier KLM, part of the Air France-KLM Group, has welcomed its first Airbus A350-900, marking a significant step in the airline’s long-haul fleet modernization strategy. The arrival...
Boeing and Ethiopian Airlines have announced a new cargo fleet expansion agreement, with the African carrier ordering eight 777-8 Freighters and two additional 777 Freighters. The investment will enab...
Airways International has entered into a new five-year partnership with the Civil Aviation Authority of Malaysia (CAAM), extending the use of its SureSelect air traffic control (ATC) candidate assessm...
UH-60 Black Hawk helicopters operated by Helicopter Alliance played a vital role in combating wildfires across Central and Southern Europe during the aerial firefighting season that has now concluded....
