MOSCOW, October 24 (RAPSI) – The Moscow Commercial Court has granted a lawsuit filed by Aeroflot-Finance, the subsidiary of Aeroflot air carrier, seeking to collect about 778 million rubles ($12.5 million) in debt from Transaero airline under a loan agreement, RAPSI learnt in the court on Monday.
Earlier, the court considered claims filed by Aeroflot against Transaero. In December 2015, Transaero was ordered to pay out about 5.3 billion rubles ($85 million). On January 25, the court recovered from the defendant around 2.85 billion rubles ($45.6 million) it owed to the plaintiff. A counterclaim by Transaero seeking to find the loan agreement between airlines invalid was dismissed. The Ninth Commercial Court upheld the ruling. Both rulings have already taken effect.
Transaero found itself unable to pay its debts estimating 250 billion rubles ($4 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.
In October 2015, 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.