Four Russian carriers have renegotiated lease debts with the state lessor GTLK, in the wake of pressure from sanctions and the aftermath of the pandemic.
IrAero and Azimuth, along with the regional operators SiLA and Aeroservis, have settled debts on “mutually beneficial terms”, says the lessor.
It adds that the carriers have complied with “payment discipline” so far.
GTLK says the sanctions imposed on the country’s air transport industry, following the Ukrainian conflict, have landed a “heavy blow”.
It adds that airlines, still recovering from the pandemic, have also had to deal with restrictions on flights in southern Russia as a result of the conflict.
GTLK has not disclosed the debt sums involved.
Negotiations are also underway to reach a settlement with the Moscow-based rotorcraft operator Russian Helicopter Systems.
GTLK says it restructured airline debts amounting to more than Rb4 billion ($64 million) over the course of the pandemic in 2020-21.