Not only “Transaero”

On 1 October it became known that “Transaero” is bankrupt, sale of tickets for the flights are stopped. Until 15 December, the airline promises to transport passengers who bought seats in advance, after the consumer should get a refund for unsold tickets. Transaero is the first airline in the worlds history, whose business was wrecked. The bankruptcy of “Transaero” in September 2015 was an unpleasant surprise for most Russians, however, for analysts it was clear before.

Since 2007 the net profit the airline revealed only in 2011. According to experts, a wrong management of the company, lowering purchasing power, payment for leasing of Western companies in the currency has led to the fact that the carrier costs ahead of revenues. In 2014, the companys revenue amounted to almost 114 billion rubles, but this was not enough to cover the costs.

Net loss, as reported by Vedomosti, reaching almost 14.5 billion. In September of the same year the company was forced to seek state support. Received 9 billion rubles a management “Transaero” has promised to spend out of the crisis. The main measure was selected damping so the carrier hoped to increase passenger traffic.

Media zapestrili headers “”Transaero” have reduced the prices to the level of low-cost airlines”. But the increase in the number of passengers for the first half of 2015 amounted to just 0.4%. Another error experts call the creation of the airline of the “Imperial” class, which occupied a considerable part of the salon and almost always empty.

For whom it was designed, difficult to understand. The price of a ticket to “Imperial” reached up to 400 thousand rubles for a place. Those who could afford such expenses, but rather thought about the flight on a private jet.

In the first half of 2015 the company has reduced the personnel costs of up to 9 billion, almost 12% compared with last year, but it was too late. According to Forbes, in September 2015, the company “Transaero” owe $ 2 billion. In June 2015, the assets of the carrier amounted to 155,5 billion rubles. As it turned out, of the 105 Transaero aircraft are owned by only ten, and nine of them have already pledged for loans.

Another 58 aviaiton are leasing, a 37 — operating leases. It is obvious that, even if the company will sell all the property, she would still not be enough money to cover the debts. The company, founded in 1990 by Pleshakov Alexander, son of the Minister of radio industry of the USSR, in a few years became essentially the only competitor of “Aeroflot” started to fly in the distant 1923.

Both companies have always received appointments to lucrative international routes. In addition, carriers were exempted from duties on the importation of foreign-made aircraft, while other Russian airlines chose. To pay the fee or fly the Soviet Tu-154 and Tu-134. In terms of traffic relatively young “Transaero” was second only to Aeroflot.

In 2014, the companys services were used by over 13 million passengers. The unprecedented success that competitors could only dream of, analysts largely linked to family ties with the owner of the company. Pleshakovs mother, Tatyana Anodina since 1991 he is the head of the interstate aviation Committee (IAC).

In 2001, Transaero moved under the leadership of the wife Pleshakova Olga, Alexander has held the position of Chairman of the Board of Directors. For two they owned 36.6 percent of the company, 3% — Tatyana Unodinoi. September 1, 2015, it became known that “Aeroflot” for a symbolic 1 ruble buys 75% plus 1 share of “Transaero”. This gave hope to the creditors and passengers.

In September, the airline tried to carry out all flights were cancelled sporadic. But change is inevitable. “On 17 September we flew with her husband tickets business class to Antalya, told the customer the airlines Elena Zvereva. “Vnukovo” us passengers “Transaero” were not allowed into the business lounge, it became clear that the airport does not serve the airline.

Next was inedible lunch on Board and a complete lack of alcohol, even beer. And tickets cost 111 thousand rubles. I rarely fly business class, mainly the economy, but a shame it was that such money no service. Transaero was already all the same how to work with clients”.

However, the deal, about which so much is said, did not take place. Until September 28, owners of Transaero airlines should send Aeroflot appropriate offer, but it never happened. The owners of the company failed to collect the required package. Former CEO Olga Pleshakova on his page in Facebook wrote.

“Not obtained the consent of the FAS, despite several requests, there is no consent of VTB Bank (Deposit 25%) and MKB Bank (a Deposit of less than 3%) on the alienation of shares in favor of the Aeroflot group, despite treatment, there is no confirmation of “Sberbank” and JSC “ZUNO” (included in “Vnukovo”) about the possibility of alienation of shares owned by them in favor of the group “Aeroflot””. Aeroflot, in turn, said that he refused the offer. The company “Aeroflot” have declared that are ready to employ 5-6 thousand employees Transaero. The total number of staff of the bankrupt airline is 11 thousand people who will employ other employees — unknown. And its unclear what will happen to the thousands of passengers who have bought New year tours.

“Rosturizm” predicts the collapse of some tour operators. Passengers who purchased tickets for dates after 15 December, Transaero undertakes to return the money — it is in theory. In practice, from the announcement on the official website, you money will receive not all.

“Its contrary to any logic. We bought in the summer at “Transaero” 2 non-refundable ticket for 34 thousand roubles in February in Paris — says Muscovite Julia Korableva. But we dont want them to return, we are being forced to do it, because the company is bankrupt. So why cant I get my money back to buy other tickets. And now we can lose all the money, because the hotel we took early booking for a special price.

It turns out we have nothing at all in advance to do”. Experts predict a “Domino effect”. The bankruptcy of “Transaero” will hit small banks, which gave loans to the company, and tour operators. The biggest partner of “Transaero” — the tour operator “Bible globe” is now trying to renegotiate agreements with other carriers on a date after 25 October.

On this day Transaero airlines expected to cease flights. Bankruptcy is one of the leading airlines of the country, in the world history not for the first time. The most famous example of Pan American Airlines, the brand, popular in the US along with McDonalds and Coca-Cola.

Founded in 1927, the company specialized in the transportation of mail between Florida and Cuba. Already in the 1930s, Pan Am bought a small bankrupt airlines and expanded the route sheet that coincided with the boom of air transportation. Then began the takeoff of Pan Am. With refueling the airline made its first passenger flight across the ocean to England.

It is Pan Am was only until 1979 by the carrier, which performed scheduled flights in the USSR. The company first purchased a wide-body aircraft. Realizing that mass tourism is hindered by high prices, the company came up with a division of flying classes. In 1948, Pan Am launched the first ever flight in economy class.

Thanks to careful management and the support Pan Am became a major U.S. airline. Only the best flight crews in the legendary sky-blue uniform, best service. The company has created a computer system of booking of tickets and hotels. Pan Am built a legendary round terminal at JFK airport in new York, and also became the owner of a skyscraper on Park Avenue, now known under the guise of MetLife.

In 1966, the airline carried 6.7 million passengers — a huge number for those years, and cash reserves exceeded one billion dollars. In 2011 was released in the U.S. series “Pan Am”, which showed how much it meant to the airline for the nation. The company was stable, as the statue of Liberty, it seemed that nothing could shake. The first step that had led Pan Am to crash, happened in 1969 when the company received a large shipment of Boeing 747, ordered three years earlier.

In 1969 the recession, which has reduced the demand for passenger transport, and the number of aircraft was no longer in demand. Hard times for “the most experienced airline in the world”, as the advert ran Pan Am in those years, brought the oil crisis of 1973. Soaring fuel prices along with sharply reduced demand for air travel was hit hard by the aerospace giant. The companys losses for the years 1969-1976 amounted to 364 million dollars, and the debt has grown to a billion.

The reduction in the staff and the fleet did not solve the problem. In 1985, the main competitor of United Airlines bought all of the Asia-Pacific direction. Two explosions aboard Pan Am in 1986 and 1988 led to the fact that people stopped buying the tickets for the flights.

In addition, the carrier owed to the relatives of the victims hundreds of millions of dollars that the insurance company for a long time refused to pay. Finally finished off the airline fuel crisis that followed the Gulf war in 1990-1991. In December 1991 the legendary Pan Am declared bankruptcy and ceased to exist.

The duty of the carrier at this point was 9 billion dollars. The remaining profitable assets were purchased by Delta Airlines. Subsequent attempts to revive the brand failed. Inherited from Pan Am rights to the European routes, the largest transatlantic destinations — Delta brought the company to the position of leader in number of passengers and flights across the Atlantic.

It did not save the carrier from the crisis that occurred in the airline industry after the terrorist attacks of September 11, 2001. The drop in demand, further growth in oil prices and the emergence of low-cost competitors led to the fact that between 2001 and 2005, Delta has lost $ 10 billion. In 2004 the company attempted to avoid bankruptcy.

Began to reduce, reduce wages. The pilots agreed to work for almost 70% of the initial rates, were introduced new flights. Measures have not worked. September 14, 2005, the company was forced to declare bankruptcy. The debt of the third largest U.S. carrier at the time amounted to 20.5 billion dollars.

However, two years later, the company was able to overcome the crisis — April 25, 2007, the court approved the carriers plan to exit from bankruptcy. Deltas old shares were cancelled, and on the new York stock exchange began to contact new, like $ 20 apiece. The company now carries more than 170 million people a year.

The loud crash of the airline business has affected Europe. The national carrier of Italy, Alitalia in 2008, declared bankruptcy. In the same year the authorities have agreed on the sale of French Air France and Dutch KLM and the German Lufthansa. But won elections Prime Minister Silvio Berlusconi stopped the deal, saying that the company should remain a national.

Under his leadership, the Parliament adopted the law on bankruptcy of state-owned companies. It has cost the countrys budget in 5-6 billion euros. The losses of the airline were scrapped. But it did not help. In 2013, Alitalia was on the verge of bankruptcy with a new debt of about a billion euros.

The carrier was looking for an opportunity to expand inter-ethnic itinerary and 300 million euros for continuing flights. The company hoped the partnership with the Franco-Dutch group Air France-KLM, which owns 25% of the shares, but the Alliance has refused to participate in the capital increase. Help came from the United Arab Emirates.

Etihad Airways acquired a 49% stake in the Italian carrier for € 1.75 billion. It is expected that in 2017 Alitalia will start to bring profit. Unable to stay afloat and the national carrier of Switzerland.

The main airline of the country in 2001, after 70 years of its existence, has declared itself bankrupt. The beginning of the end is considered to be the Swissair decision about creating a new aviaalyansa. The first was bought a controlling stake in Crossair, the next acquisition was a Belgian Sabena. The basic idea was to buy up the shares of small and not the most known European carriers.

Why it was necessary Swissair, Swiss only understand control. In 1998, the airline created the Qualiflyer Alliance, uniting more than 20 companies, most of which experienced financial difficulties. Permanent subsidies are less fortunate partners resources are exhausted Swissair.

Finally finished off the company the crisis in global aviation that followed the September 11 attacks in the U.S. The duty of the carrier at the time of the bankruptcy exceeded $ 38 billion Swiss francs. According to the findings of auditors, the bankruptcy of Swissair contributed to “administrative errors, dubious accounting methods and lack of control”. A few months after the collapse of the airline arranged the sale of his property.

Among the lots were ski overalls top managers, silver trays and ice buckets, plush toy airplanes with the Swiss flag. According to experts, the sale brought about 10 million Swiss francs, which was only a drop in the ocean of debts Swissair. The company has officially ceased to exist on 31 March 2002, in exchange, created a new carrier Swiss. And in June of the same year the Zurich public Prosecutors office launched an investigation into the causes of the bankruptcy and started a case against three managers of the company.

Source: google.co.uk/blog/startup-agency-one-way-past-founders-can-help-new-ones/

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