Aeroflot Cargo bankruptcy finalised
18 / 05 / 2010
THE final nail has been hammered into Aeroflot Cargo’s bankruptcy coffin. Announced last year, the bankruptcy has now been approved by Moscow’s Arbitration Court.
The cargo subsidiary of Aeroflot had debts of US$140 million when it had its operator certificate suspended last November.
Aeroflot has subsequently stated that the fleet of three MD-11F freighters and the existing team of sales executives, pilots and engineers will join the new cargo department now being set up. Oleg Korolev, the current chief executive officer of Aeroflot Cargo, shall carry on as a head of cargo, Aeroflot- Russian Airlines. The new cargo department, as the successor, to Aeroflot-Cargo will honour all previous obligations.