Transaero Airlines‘ subsidiary, Transaero Engineering Ireland (TEI), reported that it is no longer receiving payments for provided MRO services from its parent company.
Due to the difficult financial situation, TEI has been forced to apply to the court for protection from the creditors.
According to Transaero Engineering Ireland press-release, it is indicated that the unfavorable situation is a result of the international geopolitical crisis, sanctions pressure on Transaero and the financial difficulties related to the ruble’s exchange rates.
Due to the reasons mentioned above, currently Transaero is not able to pay for the provided MRO services. Moreover, Transaero “…is not in a position to support TEI on an ongoing basis”. Transaero Engineering Ireland has started the search of new investors.
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