Crisis or not: Russian aviation industry
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Crisis or not: Russian aviation industry

Crisis or not: Russian aviation industry

Strange begins 2015 year for Russian aviation. Many unknown and undefined. Many questions and few answers.

Is there a crisis in the air transportation industry? Or is it the crisis of individual airlines. As firefighters are afraid of the procedure of passing through optimization and improvement of financial condition. It is called bankruptcy. When decisions are made and state support and community ways out of a difficult financial situation. But to make decisions on such issues, at least transparency of all the airline's means of promotion is necessary. But with this just is not so simple. There are so-called IFRS (International Financial Reporting Standards), and RAS (Russian Accounting Standards). So, these two reporting systems have irreconcilable differences.


And companies often have to carry two reporting systems. We also note that the form on which the airlines report to the Federal Air Transport Agency, obsolete. It was developed in the early 90-ies, and for a long time does not meet the realities of the time. To determine the real state of affairs in the industry, we need independent experts and audit firms are able to check the financial condition of the airline. On the basis of these checks is already possible to produce, or a solution. We all end up using the money measures in the framework of state guarantees.

Which is not very constructive. Financial transparency, operational reporting of airlines, will allow developing the most acceptable solutions from the state. Financial recovery, the so-called bankruptcy procedure without the cessation of flights is widely practiced throughout the world. Through this procedure, all the largest carriers of the United States passed. According to lawyers in the aviation sector, such procedures are possible in Russia, within the existing legislation, without the adoption of additional articles and laws. We prefer to liquidate the company after the suspension of the operator's license.

Crisis or not: Russian aviation industry

Rosaviation quite capable of mobilizing the creditors of an airline, to develop consensus for debt restructuring. And on this basis to make a decision on state support. So there is a precedent, the company "UTair". Besides the "Alfa-Bank" all creditors agreed to a plan to restructure the company's debts. To address and overcome the crisis in the air transport industry in Russia, we need the iron will of the government and the desire of creditors. And yet solved.

Valery Smirnov specifically for