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Domodedovo Airlines to Change the Route
A bankruptcy application has been submitted in respect of Domodedovo Airlines (DAL) after the majority stakes in DAL and in other companies of the AiRUnion alliance were transferred to the government-run Rostekhnologii. The receiver will be Eduard Rebgun, who had bankrupted Yukos and who is said to be able to negotiate with the bureaucrats.
It was the DAL creditor, Russian Oil Group, that went to the Moscow Region’s Arbitration Court against DAL. The debt equals roughly 150 million ruble and, according to the court’s web, the application was accepted for proceedings June 24. The first sitting, where a receiver is usually appointed, is slated for August 4. Eduard Rebgun, who led Yukos to bankruptcy, appears the most probable candidacy for this purpose.
DAL is the member of the AiRUnion alliance, where it yields only to KrasAir in terms of the size. AirUnion was Russia’s third in passenger turnover (3.6 million) in 2007. The government owns 50.32 percent in DAL, while the remainder belongs to a group of private holders of AiRUnion headed by Boris Abramovich.
According to DAL’s web, the company’s fleet consists of 17 Il-62 planes, four Il-76s, three Il-96-300s and two Yak-42Ds. The company posted revenues of 3.475 billion ruble by results of the first half of the past year, having generated the net loss of 359 million ruble. The year’s indicators haven’t been officially disclosed, while the market players speculate that DAL earned 8 billion ruble, and its debt totaled 7 billion ruble.
www.kommersant.com
All the Article in Russian as of July 03, 2008
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