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Transaero Eyes Relaunch

Photo: Artyom Anikeev/Transport-Photo Images

 

Transaero Airlines has appealed the decision to withdraw its traffic rights from a host of domestic and international routes.  The grounded carrier has filed paperwork with Russia’s Ninth Commercial Court of Appeals, seeking to overturn an earlier decision by the Moscow Commercial Court that action by the Federal Air Transport Agency, Rosaviatsia in the aftermath of the airline’s failure in 2015 was acceptable and justified.

Transaero was forced to cease services and file for bankruptcy after the authority withdrew its Air Operator Certificate (AOC), a decision driven largely by the airline’s excessive debts estimated at the time to be 251bn roubles ($4.2bn).  Rosaviatsia subsequently revoked the carrier’s traffic rights on 141 routes, 56 of which were transferred to Russia flag carrier Aeroflot and its subsidiary Rossiya.

In its appeal – the latest in a string of legal challenges submitted by the airline – Transaero suggests it was not given enough time to fix the violations identified by the authority prior to having its AOC withdrawn.  It has asked for the decision to revoke its traffic rights to be annulled.

The airline has also had its bankruptcy hearing against Sberbank postponed to March after submitting a plan to resume commercial services.  If approved, the relaunch will see Transaero’s creditors – consisting primarily of banks – convert their outstanding debt into equity in the new-look carrier.  Outlining the plan late last year, Director General Alexander Burdin said the airline is aiming to secure certification by April, and may even partner with an existing carrier to expedite the process.

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