AK Bars Aero suspends operations until summer 2015 and begins cost optimisation

AK Bars Aero announced (14-Jan-2015) temporary suspension of operations until the end of the winter/spring 2015 season, when passenger demand is minimal. The suspension is a result of depreciation of the Russian rouble which lead to an increase in leasing payments, maintenance, insurance and training costs, as well as pressure from creditors. Passengers will receive full refunds, with 90% already refunded. AK Bars Aero plans to focus on optimisation of operational costs and its fleet. The carrier will temporarily hand over its rights to operate subsidised Volga Federal District services to partner airlines. [more - original PR - Russian]