Aeroflot investor Alexander Lebedev told RIA Novosti that the Russian flag carrier faces significant challenges as a result of the financial crisis and has launched insolvency proceedings for Aeroflot Cargo and is evaluating elimination of Aeroflot Don and Aeroflot Nord. "After the order of six MD-11Fs and three 737 freighters, SU Cargo made a loss of $140 million," Lebedev said, adding that SU plans to dissolve the cargo subsidiary and reintegrate it into the mainline. Freight fell 35.1% in ...

Subscribe to Access this Entire Article

"Lebedev says Aeroflot faces restructuring" is part of ATW Plus, our online premium membership. Subscribing will provide you access to exclusive news, carefully researched airline financial, fleet and traffic data, plus the option to receive our popular, award-winning print magazine. To learn more, click here. If viewing via ATW Mobile, please login and click "Read web article" to view fully. Questions? ATWPlus@penton.com.

Already registered? here.