PSKOVAVIA AIRLINE DECLARES BANKRUPTCY

The Commercial Court of the Pskov Region made a decision to declare the bankruptcy of Pskovavia Airline. The court case was initiated three years ago by YarAvia LLC, the debt to which amounted to 3.4 million rubles.

At the moment, other creditors have joined the process, as a result of which the total amount of debt exceeded 300 million rubles.

Difficulties in the work of the airline arose back in 2018, when the flight license of Pskovavia was suspended for the first time, but later it was completely canceled.

A year ago, the Governor of the Pskov region stated the inevitability of the airline's bankruptcy, since its debt to counterparties had become too large.

The debtor was engaged not only in domestic and international air transportation, being the main operator of the Pskov airport, but also carried out the aircraft maintenance, and even owned the airport itself.

For the moment, the commercial court has announced only the operative part of the decision to declare Pskovavia’s bankruptcy. The bankruptcy proceedings have been opened for a period of six months, but they might be subsequently extended if necessary.