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Rostov airline rescued at the eleventh hour

Taganrog Airlines seems to have beaten closure

Published: 1/24/2000

Taganrog Airlines (TAVIA), based in the Rostov region, seems to have avoided bankruptcy, by clearing a Rb 50m debt at the start of the year. A rescue bid was mounted in 1999, when the struggling airline, having suffered a 70% decline in sales, went into administration. Now, a combination of tax breaks and the successful negotiation of a major contract for the overhaul of aircraft for Indian airlines and delivery of spare parts, has breathed new life into TAVIA. Whether it can consolidate its good fortune remains to be seen.

Article ID: 1342

 

 

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