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Russian air carrier VIM Airlines cries for help, may enter receivership
September 25, 2017 / 9:11 PM / 21 days ago

Russian air carrier VIM Airlines cries for help, may enter receivership

MOSCOW, Sept 25 (Reuters) - Russian private air carrier VIM Airline has faced a severe economic adversary and has asked the state for financial aid with a possibility of going into a receivership, the company said on its social media accounts on Monday.

The company, top 10 among the Russian airlines, also known as VIM-AVIA, has cancelled or delayed dozens of flights for the past few days.

“Unfortunately, we have to state that the VIM-AVIA airline has been faced with a hard economic situation. The working capital has run out, financing has been frozen, while servicing at the airport has been suspended,” the company said.

“The air company is counting on support of the state bodies as well as partners in the tourism industry. And as the airline is not ably to carry out flights without additional funds, we plan to enter into an anti-crisis receivership.”

According to the company’s latest available information, in 2015, it carried about 1.6 million passengers. The airline has performed 11,414 flights, of which 10,520 were regular.

Another Russian airline, Transaero, collapsed in 2015 as Western sanctions and a weak rouble hit the Russian economy and its debt ballooned. (Reporting by Vladimir Soldatkin; Editing by Dan Grebler)

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