Transaero (UN/TSO) bankruptcy imminent?
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Join Date: Jan 2008
Location: Switzerland ... oh wait: Swaziland
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Transaero (UN/TSO) bankruptcy imminent?
Per latest news Transaero's bankruptcy will be announced soon for debts of nearly 4 billion(!) USD. Aeroflot recently spend 3 million USD/day to pay Transaero's fuel bills (fleet of 96 aircraft) which will be stopped from tomorrow. Suppliers started to hold their departing aircraft (3 UN aircraft are rumoured to be kept in Antalya today, not confirmed). Negotations are ongoing with other russian carriers to rescue their passengers.
TASS: Business & Economy - Decision made for Transaero to go bankrupt
TASS: Business & Economy - Decision made for Transaero to go bankrupt
Majority of Aircraft are on EI- registry and leased it appears.
https://www.planespotters.net/airlin...saero-Airlines
https://www.planespotters.net/airlin...saero-Airlines
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Now making headlines here in Cyprus. They depend heavily on the Russians to prop up the economy ...........Transaero bankruptcy may send shock waves across Cyprus (Update-3)
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Soo the IAA let them continue to operate with that kind of debt. Sure no problem... I mean financial stability is no requirement for an AOC...
I vividly remember Swissair being grounded from one day to the next, completely out of the blue leaving thousands of people stranded all over the world. The complete and utter financial mess of the SAir Group was well known, but where was the Swiss precision, Swiss clockwork and Swiss oversight? Think again!
https://www.youtube.com/watch?v=8VRWk6f4gXQI wonder how many of those P2F low cost airlines are 'glued' together with a huge pile of debt that need to get rolled over week after week, month after month? All on hope and a prayer. Anyone remember Air Polonia?
Very Sad News
I trained many of the B757 aircrew in spring 1994. Some very nice people and some excellent aviators. I guess most of them will be well into their 60s now and will probably have retired.
If any are reading this best wishes.
I trained many of the B757 aircrew in spring 1994. Some very nice people and some excellent aviators. I guess most of them will be well into their 60s now and will probably have retired.
If any are reading this best wishes.
Join Date: Jul 2009
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Quote MM
Lots of Russians stuck in Thailand.
The Russians are leaving! The Russians are leaving!
I was in the process of writing about the drop in Russian visitors to Thailand and the region as the result the devaluation of the ruble. Now it turns out that the plunge in January was more drastic than forecast, as the Bangkok Post reported March 20.
There were 46% fewer Russian arrivals in Thailand in January 2015 than the year before: 145,605 this year versus 269,479 in January 2014. While the December-January period is always Thailand’s high tourism season, bear in mind that tourism in early 2014 was depressed by Bangkok street rallies that ultimately led to the May military coup.
The huge January 2015 drop in Russian visitors followed year-on-year declines of approximately 27%, 23% and 21% in October, November and December, respectively, according to the Tourism Authority of Thailand. In the 4th quarter of 2013, there were more than 600,00 Russian visitors to Thailand, while in the 4th quarter of 2014 there were fewer than 200,000 according to the PATA (Pacific Asia Travel Association) mPower database.
Forbes Welcome
The Russians are leaving! The Russians are leaving!
I was in the process of writing about the drop in Russian visitors to Thailand and the region as the result the devaluation of the ruble. Now it turns out that the plunge in January was more drastic than forecast, as the Bangkok Post reported March 20.
There were 46% fewer Russian arrivals in Thailand in January 2015 than the year before: 145,605 this year versus 269,479 in January 2014. While the December-January period is always Thailand’s high tourism season, bear in mind that tourism in early 2014 was depressed by Bangkok street rallies that ultimately led to the May military coup.
The huge January 2015 drop in Russian visitors followed year-on-year declines of approximately 27%, 23% and 21% in October, November and December, respectively, according to the Tourism Authority of Thailand. In the 4th quarter of 2013, there were more than 600,00 Russian visitors to Thailand, while in the 4th quarter of 2014 there were fewer than 200,000 according to the PATA (Pacific Asia Travel Association) mPower database.
Forbes Welcome
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TBQH the Transaero debacle was waiting to happen, for years and years now.
It was only a question of time.
They started out as a "roll over finance" company, thought they could play it big, then when the rouble went down the pan, tried to bust their way out of the falling revenues by lowering fares even more.
There's only one solution to a "rock and hard place",- getting rescued by a semi-government owned airline financed by international subsidies of RF overflying aircraft.
Hi AFL! And when that
plan doesn't work out for obvious reasons, all you get is some nice outfit like Pobeda hey isn't "kr..m n..sh" to get you out of the proverbial? 
In the end, the only ones to suffer from the reduced safety culture and the lack of choice are the PAX, -
(then along will come a non EU airline/country that has the right to overfly Ukraine, and pick up the tasty bits...)
Welcome TK, we always knew we could count on you.
It was only a question of time.
They started out as a "roll over finance" company, thought they could play it big, then when the rouble went down the pan, tried to bust their way out of the falling revenues by lowering fares even more.
There's only one solution to a "rock and hard place",- getting rescued by a semi-government owned airline financed by international subsidies of RF overflying aircraft.
Hi AFL! And when that
plan doesn't work out for obvious reasons, all you get is some nice outfit like Pobeda hey isn't "kr..m n..sh" to get you out of the proverbial? In the end, the only ones to suffer from the reduced safety culture and the lack of choice are the PAX, -
(then along will come a non EU airline/country that has the right to overfly Ukraine, and pick up the tasty bits...)
Welcome TK, we always knew we could count on you.
Last edited by up_down_n_out; 6th Oct 2015 at 13:51.
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I trained many of the B757 aircrew in spring 1994. Some very nice people and some excellent aviators. I guess most of them will be well into their 60s now and will probably have retired.
If any are reading this best wishes.
If any are reading this best wishes.
The best time and the best training ever...
I'm watching - & hoping. I have no agenda reference the A380. Rather, I am concerned about the ongoing lack of new orders, & by the demise of Skymark & Transaero & the continuing deferment by Virgin. All bad news for the 380 ! So, if Airbus have got some more orders, I am more than happy.
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More orders by the end of the year - possibly sooner.
I agree with SMT Member however, a bankruptcy of Transaero might have amuch larger impact on the entire 747-8 (both the "8i" and "8F") program.
