The second largest Russian Airlines, Transaero will cease its flight operations from October 26, after the federal aviation regulato...
The second largest Russian Airlines, Transaero will cease its flight operations from October 26, after the federal aviation regulator, Rosaviatsia revoked its airline certificate.
Rosaviatsia's audit has found the Moscow based airline is in the verge of bankruptcy and does not have the financial capability to repay debt and fund its operations, violating the FAR-11 certification requirement.
The airline is experiencing an acute shortage of funds needed for simulator training of crews, timely repair and maintenance of its aircraft fleet, which could endanger the life of passengers.
The 155,218 passengers who have booked flights with Transaero, from October 26 to 4 April 2016, will be transported by other Airlines. Of these, 87,757 people will be transported by Aeroflot flights, its group companies, as well as other air carriers and the remaining will be refunded.
The 155,218 passengers who have booked flights with Transaero, from October 26 to 4 April 2016, will be transported by other Airlines. Of these, 87,757 people will be transported by Aeroflot flights, its group companies, as well as other air carriers and the remaining will be refunded.
Transaero was granted a RUR 9 billion loan by Russian Government, on the condition that the airline will develop an improved business model including optimization of the route network.
The bankruptcy is a big blow for Boeing and Airbus, as it will cut four orders each, from their already order starved Airbus A380 and Boeing 747-8I programs.
Transaero Airlines launched services in November 1991, and served more than 200 routes all over the world, with the largest fleet of widebody aircraft in Russia, CIS and Eastern Europe. It is the only operator of Boeing 747 aircraft in the region.
The airline’s fleet consisted 102 aircraft, including 14 Boeing 777 aircraft, 20 Boeing 747 aircraft, 18 Boeing 767 aircraft, 45 Boeing 737 aircraft, 2 Airbus A321, 3 Tupolev Тu-214 and a Tu-204C cargo aircraft.
Transaero began operating its first Airbus aircraft (A321) in August 2015. In 2011 Transaero signed a contact with Airbus for eight A320neo and in 2012 became the first Russian customer for the A380, and was slated to enter service by 2015 end.
Boeing had no other order with the Airline, other than for the 747-8. An order for four 787 Dreamliners was canceled in 2014.
