Russia terrified watching monuments destroyed in Palmyra — culture ministerRussian Politics & Diplomacy January 21, 17:08
Russian bombers deliver successfully strikes on terrorists' facilities in SyriaWorld January 21, 15:39
Denmark uses Russian data in its application for expanding shelf — ministerBusiness & Economy January 21, 15:15
Agreement on bases in Syria to serve strengthening of stability in Middle East — MPRussian Politics & Diplomacy January 20, 21:18
Trump's inaugural address: When America is united, America is totally unstoppableWorld January 20, 20:57
Hermitage chief: New Palmyra destruction comes across as militants' vengeanceRussian Politics & Diplomacy January 20, 20:29
Russia's first deputy PM wants to keep current tax system for next political cycleBusiness & Economy January 20, 19:53
Russia’s Shipulin clinches gold in 20km individual race of IBU World Cup stage in ItalySport January 20, 19:18
Prominent Russian adventurer Konyukhov to take samples from Mariana Trench floorSociety & Culture January 20, 19:15
MOSCOW, February 25. /TASS/. The Russian Transport Ministry does not exclude bankruptcies of airlines in case demand for air transportation remains low, Deputy Minister of Transport Valery Okulov said Thursday.
"We do not exclude the risk of bankruptcy of airlines if the situation does not change towards improving demand and traffic growth," he said.
In 2015, against the background of the difficult economic situation, the reduction of tourist flow and rising costs airline Transaero ceased to exist — before that the second largest player in the aviation market and the largest charter carrier, focused on international tourism. According to market participants, Transaero management chose the wrong policy of building up the airline’s fleet, and, accordingly, its debt, taking into account the devaluation of the ruble and increased cost of maintaining aircraft resulted in the inability of the company to service the debt.
Currently a number of Transaero lenders are filing claims for the bankruptcy of the carrier.
According to the Federal Air Transport Agency, Russian airlines’ passenger traffic dropped 1.2% year-on-year in 2015 to 92 mln people. Airlines carried 39.5 mln passengers on international routes, decreasing by 15.8% year-on-year. Passenger turnover in 2015 amounted to 226.98 bln passenger-kilometers and declined 6% year-on-year.
According to Okulov, in 2015 the average cost of air transportation increased by 5.6% with inflation of 12.7%. In addition, almost prices for aviation fuel increased by 12% when the share of the fuel accounts for 30% in the cost of transportation. "In general, airlines accumulated losses," Okulov said.
International air carriage in Russia fell 26% year-on-year in 2016, the official said.
"A significant decline was noted on international routes in 2015. 39.5 mln passengers were carried against 47 mln in 2014. I regret saying this trend continues. The decline in January of this year is 26%," Okulov said.