A bankrupt air carrier. "Transaero": the reasons for the financial problems of the airline

2024 Author: Harold Hamphrey | [email protected]. Last modified: 2023-12-17 10:06

Many customers flying with domestic airlines recognize Transaero as one of the major players in the transportation world. Crisis moments touched her back in 2014. The company's management turned to the government for financial support, but the expected assistance was not received. Creditors expressed their disagreement with further debt restructuring, for this reason the company was at the center of a high-profile scandal. Is Transaero really bankrupt? This question worries many passengers.

The fall of this company could be to the advantage of many competing companies, because the collapse of "Transaero" will entail tremendous changes in the air travel market. But the fact that Transaero is bankrupt will not have the best effect on ordinary citizens.

From the statement of Prime Minister Medvedev, it follows that the main reason for the problems that arose was the purchase of too many aircraft. Extra costs were made at the time of significant growth, the miscalculation was precisely in this.

Crash of "Transaero"

The company's unreasonable financial policy led to its downfall. She was deniedproviding state guarantees. The leadership of the Ministry of Transport and the Ministry of Economy did not accept the company's program for overcoming the crisis. As a result of these actions, Transaero was left without any support. Hope for a way out of the situation was associated only with the improvement of the market economy, but this, unfortunately, did not happen.

A moment of market reorientation

Gazprombank's leading analysts tried to predict future prospects and ways of developing the domestic air transportation market. It follows from their analysis that after the official departure of Transaero, the vacated part of the niche will be successfully divided among large Russian companies.

Aeroflot may experience a significant influx of passengers. The share of the state-owned company accounts for 37% of the total passenger traffic, after the self-liquidation of a competitor, this figure may increase to 50%. The second no less large air carrier that will benefit from this situation is S7. This company will be able to increase its passenger traffic up to 12%. The last in the top three players will be UTair with a market volume of 10%.

Due to the fall in total passenger traffic by as much as 5%, an excess of air routes has formed. After the cessation of Transaero activities, stability will come to the market.

Possible consequences for fellow citizens

After the market leaves the bankrupt Transaero, ordinary customers should expect an increasetariffs in all directions, which will positively affect the level of profitability of many air carriers. All this is expected in the near future.

Director of "Transaero" Vitaly Saveliev in one of his interviews said that more affordable air tickets should not be expected. The head of this monopoly clarified that there are no obvious prerequisites for reducing the cost of tickets. There is only one company on the market that sells tickets at reduced prices - this is Pobeda. As the director of Transaero explained, if many air carriers start to reduce their prices, they will suffer losses, and the fate of bankruptcy may repeat.

From the official statement of expert Alexei Komarov, it follows that with an uneven redistribution of flights operated by Transaero, Aeroflot can get a significant share of the monopoly of this market segment. After that, the cost of tickets for major international flights may increase, which will serve as a strong blow to the tourism business, which is already in a state of crisis.

Company lost ticket sales

From December 1, the Federal Air Transport Agency decided to issue an official order to the leadership of Transaero to stop selling tickets. Back in the summer, the company reduced prices in many areas. Transaero passengers are very concerned about the current situation with its debts. Since no financial institution has recognized its bankruptcy, Rosaviatsia cannot officially stop selling tickets.

Transaero will not return money for tickets, and flights will be carried out by another major player - Aeroflot. The decision to limit the sale of the company's tickets has been made; this will be carried out through the Transport and Clearing House. This resolution will remain in effect until the company's management is changed by Aeroflot. At this moment, passengers will be able to see information on the scoreboard that Transaero's flight has been cancelled. Upon cancellation of flights, a refund of the funds spent to passengers should be made.

Colossal company losses

Over the past 2015, the size of the airline's losses has grown to a huge amount - about 18.9 billion rubles. But the net profit came in the amount of 13.1 billion rubles. From these figures it follows that the company went into negative territory for a whole year of work. Many Transaero employees found themselves without prestigious jobs. This is due to the fact that the current passenger transportation program has brought the company nothing but costs. The current employees of Transaero are worried about the future of their company, because many banks have begun to actively demand the return of debts. She has a large number of creditors, many of whom she owes a decent amount. The total debt of Transaero, together with leasing, is 250 billion rubles. Litigation with creditors and proceedings around this company are ongoing. Many credit organizations seek to obtain their funds through the courts. In the list of main creditorsairlines are Sberbank, VTB, Gazprombank, IFC.

Shares "Transaero"

In September 2015, the government received a directive calling for Aeroflot to acquire a 75% stake in Transaero, the cost of one such unit did not exceed one ruble. But for some reason, Aeroflot refused the proposed offer.

The next month, the shares of "Transaero" increased by 17%. According to preliminary data, S7 shareholders intend to acquire 19% of the total shareholding. The average cost for 1 security reached 11 rubles. After this transaction is completed, S7 plans to file a petition with the Antimonopoly Service in order to confirm it.

The fate of the company today

The current fate of the Transaero air carrier, which is drowning in debt, was decided at the level of the head of state. The president clearly identified the companies responsible for the financial difficulties. At the heart of this situation are issues related to the methods of conducting the economic and financial policy of the company. The crisis phenomena that emerged in the economy played a decisive role in the development of this situation.

The main priorities for this company were identified: to complete the transportation of passengers in the near future, to solve the employment of the current staff - pilots, navigators, stewardesses and other personnel still working in the airline. Soontime on the scoreboard, many will see the inscription - "Transaero": flight canceled. "All existing destinations and domestic flights will be divided between Aeroflot and the S7 group.

Special labor exchange in support of former Transaero employees

A similar exchange is being created to support the unemployed personnel. Earlier it was reported that Aeroflot was ready to accept 3,100 people in its staff. Now it is reported that it is ready to accept only 2.8 thousand flight attendants. Transaero employees will continue their professional activities.

This carrier claims some international flights. The head of state proposed to give Aeroflot the right to state support as the main executor of most of Transaero's obligations. Aeroflot has previously announced that it is the main contender for a certain market share, without counting on any monetary guarantees. But this announcement did not prevent him from demanding repayment of a debt in the amount of 5 billion rubles from Transaero. in court order.

Farewell, Bankrupt Transaero

The whole procedure of measures to reorganize and transfer the company under the control of Aeroflot will take a little more than six months. All this may require a revision of the existing model of domestic air transportation. Compliance with all agreements during the process of their unification will be closely monitored by the administration of the head of state together with the current government. This famous brand is disappearing, leavinghe althy "Aeroflot" all its internal resources. Such a decision is quite rational, because the symbols and target audience of these 2 companies are almost the same. So why not leave the strongest of them? This is quite logical and reasonable. And how many more such cases the crisis will throw, we can only guess.