North West | Transport, logistics

KD Avia miring again

2 Sep '09
Kaliningrad-based air company KD Avia, burdened with huge debt to a number of suppliers and partners both in Russia and Europe, may halt its operations any time now, Russias Rosaviatsya air transportation supervisor announced today, citing a written warning from the air company.

According to the report, a $129m federal aid pledged in early summer and budgetary guarantees promised by the Kaliningrad regional administration have not been provided yet. The reason for this is that KD Avia was expected to split its air transportation business and the management of the Kaliningrad airport an indispensable condition, upon which the aid could be released. But the air company has not honored its obligation yet.

Marchmont has repeatedly reported KD Avias financial woes, which began in late 2008 and were exacerbated this spring by the crisis. As of April, the companys outstanding payables reportedly topped $323m.
Publish in Twitter
Write to Facebook
Google Buzz
Write to LiveJournal
Show in MM
Share MK
COMMENT ON THIS STORY
Find Related Content

Tags: debt (49) / KD Avia (13) / Rosaviatsya (0) /

Latest News: North West
26 Jan '22 | Technology & innovation
19 Jan '22 | Technology & innovation
17 Jan '22 | Technology & innovation
14 Jan '22 | Technology & innovation
13 Jan '22 | Technology & innovation
 

Feature stories

27 Dec '21
An innovative hybrid plate for cranial defects...
24 Nov '21
Cerebral vascular disorders are responsible for a...
8 Oct '21
Chemists at the St. Petersburg State University...
Search (News archive - 22915)
Technology Scouting Solutions For Industry
NATT
Advertising
Marchmont News

Latest News

27 Jan '22
Siberian scientists have developed new hybrid...
26 Jan '22
K-Sky, an IT developer from northwestern Russia, is...
20 Jan '22
A research team at the Samara Polytechnic University...

Most read stories from last week

26 Jan '22
K-Sky, an IT developer from northwestern Russia, is...
26 Jan '22
The Perm-based company Where are My Children has...
27 Jan '22
Siberian scientists have developed new hybrid...