Support The Moscow Times!

Russian Banks File Bankruptcy Lawsuits Against Transaero

Major creditors of Russia's second-biggest airline, Transaero, have begun to file lawsuits against the company as it collapses under a 250 billion ruble ($4 billion) debt pile.

Transaero's largest lenders had held back after a company-saving takeover deal by Russia's flag carrier, Aeroflot, fell through last month.

But on Monday, a bankruptcy suit by Alfa-Bank, one of Russian largest lenders, was registered with the Arbitration Court in St. Petersburg, the Interfax news agency reported. Earlier that day the country's largest bank, Sberbank, also filed a bankruptcy case against the company, according to the news agency.

And Transaero's largest creditor, state-owned VTB bank, also plans a lawsuit against the airline, Interfax cited the bank's chief, Andrei Kostin, as saying.

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.


Read more