Volga-Dnepr, as soon as Russia’s main air cargo operator, could quickly be underneath new possession as Evgeny Solodilin — an aviation govt with in depth worldwide administration expertise — positions himself not merely as a purchaser, however as a disaster supervisor looking for to rescue the struggling group. He beforehand headed Zhukovsky Airport and Red Wings Airlines, roles that add home depth to his worldwide observe document.
A Rescue Mission Rather than a Mere Takeover
Evgeny Solodilin, by his firm is negotiating to accumulate the whole thing of Volga-Dnepr. The deal, confirmed by each side, would come with all three of the group’s airways — Volga-Dnepr, Atran and AirBridgeCargo (ABC) — in addition to its engineering and upkeep subsidiaries. No buy worth has but been disclosed. Crucially, Solodilin is framing the transaction not as a switch of possession however as an try and stabilise and protect an actual enterprise that has been battered by sanctions and debt.
A Strategic Turnaround Plan
Following an inside audit, Solodilin has drawn up an in depth debt restructuring technique. Volga-Dnepr is estimated to owe round $500 million to lessors, whereas its grounded fleet could possibly be price as a lot as $1 billion. Central to his plan is the return of 9 Boeing 747-8 plane from ABC’s fleet to overseas lessors, an strategy that can require negotiations with Russian state authorities to acquire the mandatory approvals. At the identical time, efforts are underway to carry again plane detained overseas — together with three An-124s held in Leipzig and a Boeing 737-800 in Cologne. The group additionally intends to revive a number of of its Boeings to service and doubtlessly add Russian-built Il-96s, Tu-204s and Tu-214s to its fleet.
From Global Leader to Sanction Casualty
Until 2022, Volga-Dnepr was one of many world’s largest operators of heavy and outsized cargo. Western sanctions, nonetheless, grounded most of its worldwide fleet. Of 11 An-124s, solely three stay airworthy; ABC’s 14 Boeings are in storage; and Atran now operates simply two An-12s.
The group’s founder, Alexey Isaikin, just lately supplied at hand the corporate over to the Russian state to keep away from chapter. But the Ministry of Transport rejected the proposal, arguing that state participation would undermine Moscow’s anti-sanctions technique.
Prospects for Recovery
Industry observers consider Solodilin’s background in worldwide aviation partnerships might show decisive in resolving disputes with overseas lessors and unlocking detained belongings. During his management at Zhukovsky, he labored with Lithuania’s Avia Solutions Group, Azerbaijan’s SilkWay Holding, and Munich Airport’s operator on joint ventures. This observe document is seen as crucial in constructing belief with abroad companions and collectors.
If profitable, the acquisition might protect round 1,500 jobs. Sources additionally counsel that revenues could also be supported by renewed cargo flows, significantly by the restoration of routes linking Russia with China and EAEU nations. With Chinese airways now commanding 93% of the Russia–China cargo market — up from lower than 40% earlier than 2022 — reclaiming industrial rights already held by ABC might present actual alternatives for development.
Market Challenges Ahead
Experts warning, nonetheless, that Russia at the moment has no viable home marketplace for Boeing 747 freighters. Maintenance limitations and fierce competitors from Chinese carriers stay key obstacles. Analysts stress the necessity for a brand new, sustainable enterprise mannequin, noting that Volga-Dnepr’s earlier world operations relied on worldwide “round-the-world” networks which might be now not viable underneath sanctions.
Still, if EAS Group succeeds in restructuring money owed, securing state approval for plane transfers, and reactivating its fleet, some consider Volga-Dnepr might chart a path to restoration. As one analyst famous, “Returning plane to operations or house owners is an important step in restoring viability — however constructing a worthwhile new mannequin for Russia’s modified market would be the actual check.”
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