What's going on with Transaero? This question still does not lose its relevance among Russians who prefer to travel by air. And it is really urgent, since a huge number of people used the services of the above airline. The geography of its flights is extensive: India, Egypt, Turkey, Tunisia and so on, so on, so on. What is happening with Transaero, the company that was the largest player in the domestic transportation market? The company operated more than 100 aircraft, and the profit in 2014 was a fabulous amount - 114 billion rubles. Why did a "prosperous" air carrier suddenly become bankrupt? What is happening with Transaero today? Let's take a closer look at these questions.
Company Owners
Transaero air carrier was established at the end of December 1990. Its owners were the son of the Minister of Radio Industry of the Soviet Union Alexander Pleshakov and the headInterstate Aviation Committee Tatyana Anodina.
Until the last days of the airline's existence, Alexander Pleshakov was its executive director, and his wife, Olga Pleshakova, headed the board of directors of the commercial structure.
Causes of the collapse
The situation about what is happening with Transaero can be described to the point of banality. The company suffered bankruptcy. But financial fiasco never occurs in a vacuum. Its cause is a short-sighted and irrational leadership style. The owners of the air carrier have so unbalanced the levels of income and expenses that experts are still trying to figure out what really happened to Transaero.
Beginning of the crisis
Meanwhile, the carrier had financial problems a long time ago. Back in the period from 2007 to 2009, the amount of debt increased from 10 to 32 billion rubles.
True, by 2014 the situation was somewhat leveled. The management's desire to enter the stock market contributed to the destabilization of the financial situation. However, it turned out to be rather problematic to implement this idea in practice, and experts immediately suspected that the carrier's financial statements were of an "opaque" nature. In addition, the cost of the company itself was unreasonably high. But these are far from all the pitfalls of what actually happened with Transaero. Perplexity was caused by the feigned optimism of the owners: they say, things are going great. OlgaPleshakova personally stated that Transaero does not need additional assets, therefore, there is no need to place securities. One way or another, but the audit companies that were engaged in checking the financial documentation of the air carrier signed the reports with huge reservations.
Crisis intensifies
By the end of 2014, analysts had already finally predicted the scale of what was happening with Transaero. Her financial situation has become dire.
The total amount of debt to creditors has reached astronomical figures - 250 billion rubles, while financial claims from refueling structures and air carriers amounted to 20 billion.
About 150 billion rubles is a debt on leasing obligations, moreover, more than 30 aircraft are owned by credit institutions: VTB, Vnesheconombank, Sberbank. Yes, and before banking structures, Transaero had debt obligations - their share amounted to about 80 billion. A number of financial organizations turned out to be among the creditors: Moscow Credit Bank, Rosselkhozbank, VTB, Sberbank, Alfa-Bank, FC Otkritie Bank, Promsvyazbank, MTS-Bank. It would seem that the state should delve into the situation, because it sees what is happening with the Transaero company, and is certainly able to help in solving the financial crisis. However, officials were in no hurry to intervene in the affairsthe largest participant in the air transportation market. Why?
Human factor
As already emphasized, the financial collapse of Transaero is the work of the company's management, which for many years tried by all means to increase the prestige and significance of its offspring, presenting it as "the best of the best".
However, in reality, it was not like that, and it was often necessary to splurge with the use of PR technologies. Despite the fact that Transaero had a huge debt to creditors, the owners of the company continued the campaign called "Discount Ticket Sales". At the same time, the air carrier's partners strongly opposed fulfilling their obligations on credit. The pilots and flight attendants were well aware of what was happening with the Transaero airline, but its management was trying to build a model that would be another argument in favor of the fact that the exit of its offspring from the market would lead to the collapse of the entire industry.
Ways out of the crisis
At the end of 2014, the above air carrier receives a loan from VTB Bank in the amount of 9 billion rubles under state guarantees. However, the officials took quite a long time to figure out what really happened with Transaero, and chose not to interfere anymore.
Assistant to the head of the Russian Cabinet of Ministers Arkady Dvorkovich said that it is very difficult for the government to understand what financial upheavals are taking place within the airline, and, due to the lack of transparency in this matter, to provide material supportTransaero is an incorrect measure. Economic Development Minister Alexei Ulyukaev supported his colleague, emphasizing that it makes no sense to financially support inefficient management.
Aeroflot
Soon, there were real shifts in solving the problem. Aeroflot became interested in the bankrupt company. This aviation giant, in practice, observing what is happening with the flights of Transaero, was ready to acquire a controlling stake in the bankrupt carrier. Aeroflot offered a symbolic amount for the securities - 1 ruble, but the deal did not take place. Why? Firstly, the state no longer intervened in the situation, and secondly, the owners of the shares could not "collect" the necessary 75% plus 1 security into the total array.
And thirdly, creditors were not satisfied with the restructuring plan offered by Sberbank. The government had no choice but to decide on the financial insolvency of Transaero. However, the bankrupt himself had to fulfill his obligations to customers, but at the expense of the efforts of other air carriers.
In what conditions did the passengers find themselves
Of course, the news of the bankruptcy of the country's largest airline was not kept secret. Until now, many are trying to figure out what is happening with the passengers of Transaero. Officials of the Russian Ministry of Transport hurried to reassure tourists that the obligations assumed by the bankrupt company would be fulfilled by other carriers, including: Aeroflot, S-7, UTair, Uralairlines, Orenburg Airlines. However, a caveat should be kept in mind: if a ticket was purchased for a flight with a date before December 15 of last year, then it will take place. If it is purchased later than the above period, then the passenger will be refunded its cost. Moreover, on the Internet portal of the Transaero company, you can find detailed instructions on how to return a ticket and get your money. If you purchased it online, then all return transactions must also be done via the Web. If the ticket was purchased at the offices of Transaero, then you need to go there.
Those who purchased it from a tour operator need to pay a visit to him. If you took tickets at the box office of Transaero, then you will only have to take them there. The airline staff said that the money for the ticket will be returned within 14 to 30 days from the date of application.
What should employees do?
Those who worked in the bankrupt airline found themselves in a difficult situation. The question of what happens to Transaero employees is also of interest to a huge number of people. Today, pilots, flight attendants of a bankrupt air carrier cannot get a job, hoping that sooner or later they will be paid their wages. Some pilots still manage to get jobs in foreign airlines, while flight attendants are still experiencing financial difficulties. Aeroflot and the new united airline Rossiya will help to partially solve this problem.
Conclusion
Experts sayeven such a powerful structure as Aeroflot is not able to cope with the debt burden that Transaero has built up. However, there will not be any serious consequences of a social nature. Until mid-December last year, almost all obligations for cargo transportation within the framework of purchased tickets should have been fulfilled; some passengers received money for them.
Aircraft on the balance sheet of Transaero will become the property of Aeroflot. Part of the property will be sold through auctions. Lenders will certainly suffer huge losses. Experts say that today every airline that has its own fleet of aircraft and desire can fly to destinations previously served by Transaero.
