Russia Launches Rescue Bid for Debt-Laden UTair | Aviation International News

Russia Launches Rescue Bid for Debt-Laden UTair

The Russian government has agreed to provide debt guarantees for UTair, but less than half the aid the struggling airline requested.

Older Boeing 737-500s are among the aircraft that UTair has been cutting from its fleet in a bid to control costs. [Photo: Vladimir Karnozov]

By Vladimir Karnozov

April 1, 2015

Russia’s government has agreed to support UTair with 19 billion rubles ($328 million) in guarantees for the struggling airline’s creditors. In an April 1 statement, economic development minister Alexei Ulyukaev said the government had declined a UTair request for 40 billion rubles ($690 million) and he called on the airline’s owners to “take [on financial] obligations as part of the rescue effort.”

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