Russia's Avianova officially ceases operations

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Russian low-cost carrier Avianova officially ceased operating its passenger services on 10 October, as a result of what it described as its "deteriorating financial and economic state".

A statement on the company's website said that passengers on the cancelled flights would be entitled to a full refund guaranteed by one of the company's investors, Russia-based A1 Group, the investment arm of the Alfa Group.

Avianova first registered in 2006 and began operations on 27 August 2009. The carrier has recently been embroiled in a power struggle between shareholders A1 and Indigo Partners.

Avianova carried 1.3 million passengers in 2010.