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Donbassaero airline starts bankruptcy proceedings

The Donetsk Region Economic Court has started bankruptcy proceedings with regard to the Donbassaero airline

KIEV, January 14 (Itar-Tass) – The Donetsk Region Economic Court has started bankruptcy proceedings with regard to the Donbassaero airline, which is a member of the “Ukrainian Aviation Group” alliance and controlled by Igor Kolomoisky, co-owner of the Privat Group.

The court ordered a moratorium on the creditor’s claims and authorised financial restructuring of the debtor in the next six months until July 9. A preliminary court session to consider the creditors’ claims was set for March 27, one of the Ukrainian television channels reported on Monday, January 14.

On December 29, 2012, the Kiev Region Economic Court ordered bankruptcy proceedings against the AeroSvit airline following financial problems that resulted in dozens of flights cancelled both inside Ukraine and in other countries.

The Dnepropetrovsk-based Dniproavia airline, which is a member of the “Ukrainian Aviation Group” alliance, has also stopped flying. Its shareholders are to meet on January 15 to decide the fate of the company and the authorised capital of Dnepropetrovsk’s international airport.

Dniproavia, AeroSvit and Donbassaero are members of the “Ukrainian Aviation Group” alliance, which makes charter and regular flights in Ukraine as well as to Europe, Asia and North America.

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