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Transaero seeks court protection, not willing to give $82 million to Aeroflot

Staff Writer |
The Russian Supreme Court had registered a Transaero appeal seeking to review lower courts’ rulings ordering the air carrier to pay 5.3 billion rubles ($82 million) to Aeroflot.

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Last December, the Moscow Commercial Court ruled to award Aeroflot the full amount of its 5 billion rubles ($7.7 million) claim against Transaero over a debt incurred under the loan agreement of September 4, 2015. Appeals courts upheld the ruling.

Some other Aeroflot suits against Transaero are reviewed by courts. Thus in January, the Moscow Commercial Court ruled in favor of Aeroflot in a lawsuit against Transaero, ordering the defendant to pay about 2.85 billion rubles ($35.6 mln) it owes to the competitor.

Besides, on September 22 the court is to rule on Aeroflot claim demanding 429 million rubles (about $6.6 million) and on October 12 it will examine a 2.1 billion ($32 million) claim.

Transaero found itself unable to pay its debts estimated at 250 billion rubles ($3.9 billion). Government-approved plan of transferring 75% of company’s shares to Aeroflot failed. Its problems resulted in a large number of flight cancels and delays.

Last October, Sberbank and Alfa Bank filed bankruptcy petitions against the troubled airline. The Commercial Court of St. Petersburg and Leningrad Region initiated a bankruptcy procedure against Transaero on December 16.

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