Russian court declares Aeroflot subsidiary Donavia bankrupt
A Russian court has declared Aeroflot Airline subsidiary Donavia insolvent following a bankruptcy filing in January when Aeroflot filed on behalf of its 2 subsidiaries—Orenburg-based Orenair and Rostov-on-Don-based Donavia. Orenair was declared bankrupt in Feb 2017. In Nov 2011, Aeroflot received shares of 5 Russian regional carriers—including Orenair, Donavia and Saint Petersburg-based Rossiya Airlines—from Russian state corporation Rostec. In Oct 2015, Aeroflot announced it would combine the assets of 3 subsidiaries under the brand Rossiya Airlines. In May 2016, Donavia’s air operator’s certificate was canceled after the assets were combined. In Aug 2016, Aeroflot recovered a RUB884m (US$13m) overdue loan it had granted to Donavia last year. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-08-15/unaligned/russian-court-declares-aeroflot-subsidiary-donavia-bankrupt
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Russian court declares Aeroflot subsidiary Donavia bankrupt
A Russian court has declared Aeroflot Airline subsidiary Donavia insolvent following a bankruptcy filing in January when Aeroflot filed on behalf of its 2 subsidiaries—Orenburg-based Orenair and Rostov-on-Don-based Donavia. Orenair was declared bankrupt in Feb 2017. In Nov 2011, Aeroflot received shares of 5 Russian regional carriers—including Orenair, Donavia and Saint Petersburg-based Rossiya Airlines—from Russian state corporation Rostec. In Oct 2015, Aeroflot announced it would combine the assets of 3 subsidiaries under the brand Rossiya Airlines. In May 2016, Donavia’s air operator’s certificate was canceled after the assets were combined. In Aug 2016, Aeroflot recovered a RUB884m (US$13m) overdue loan it had granted to Donavia last year. <br/>
