Crisis of Russian airline alliance AiRUnion
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http://www.kommersant.com/p1014432/r_500/AiRUnion_halt_winter/
First airline alliance ever established in Russia "sank into Air Pocket", as it was mentioned by russian newspaper Komersant.AiRUnion is probably the second largest domestic carrier in Russia after Aeroflot. Russian government holds no less than 45% of its shares.
A debt of $1 billion, which is three times the value of AiRUnion assets made its creditors to be concerned. On 20/08/08 AiRUnion was forced to halt nearly all flights. After few days of growing crisis in several airports, four leading airlines of Russia divided the routes of AirUnion at the meeting in the RF Transport Ministry.
Russia’s Prime Minister Vladimir Putin has committed Vice Premier Sergei Ivanov to urgently sort out the problem with delayed flights of AiRUnion and agreed to appropriate the required funds to the effect.
