Russian operator Region-Avia has halted all operational activities as it seeks ways to resume business.
Last year, the carrier cancelled or halved feeder services to Moscow Domodedovo from Ulyanovsk, Nizhny Novgorod and Cheboksary.
Since the beginning of January, Region-Avia has ceased operating on intra-regional routes to the remaining handful of cities in its schedule.
The carrier has four leased Embraer EMB-120 turboprops, which are grounded at Domodedovo, and another four pending delivery.
The company cites the lack of working capital to sustain business development. It expected to begin receiving funds under a line of credit from Vnesheconombank but this failed to materialise.
The carrier's director Denis Pavshinski says Region-Avia is looking to relocate its base to Ekaterinburg or Samara in order to resume operations.
To this end, he suggests it could also form a partnership with the regional operator RusLine, which operates under the brand of Air Volga and uses Bombardier CRJ200 jets.
Source: Air Transport Intelligence news
