UTair misses bond payments as crisis deepens

 Art Konovalov / Shutterstock.com

Art Konovalov / Shutterstock.com

UTAir misses bond payments: The crisis at Siberia’s UTAir airline deepened last week after it emerged that it had been unable to meet payments on two loan bonds worth a total of $59m, although chief executive Andrey Martirosov insisted that the company was only experiencing “temporary difficulties” and that the situation was not critical. Based at Khanty-Mansiysk Airport, the carrier has already laid off more than 800 employees, discontinued one in five flights and put the delivery of all new aircraft on hold. There are now rumours that the entire 123-strong existing fleet could be moved to its Katekavia subsidiary. The Siberian Times