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.

Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.