Court agrees the return of the aircraft (210 words)

Published: 8/30/2000

Krasair has reported that its Tu-154, which was seized on 21st July in Samara under a court order requested by trade company OFI-INT due to non-payment of debts relating to engine deliveries, was returned to Krasnoyarsk on 11th August. According to Krasair, the case presented to the Samara Arbitration Court was that the aircraft should be returned as 60% of the outstanding debt had been paid, and the court agreed to allow the aircraft to return. For Sergey Seminikhin from OFI-INT, who has proved to be very bitter about the affair, the release of the aircraft is a conspiracy between the Aviakor, where the aircraft was being repaired, and the airline. Seminikhin believes that the fact that the airline is a major customer persuaded Aviakor to agree the seizure was illegal. He also claims that the monies owed to his company still have not been repaid bar some small amounts, despite the claims of Krasair. Seminikin threatens that if payments are delayed again, then they will seek to seize another Tu-154M, which is currently being repaired at the plant. If they then do not get repayment of all their debts by the end of September 2000, they will acquire Krasair's debt and seek to push the airline into bankruptcy.

Article ID: 2038