A few days ago, the ICAO assigned a new three-letter code to Utair Limited. The previous code “UTA” of PJSC Utair Aviation is supplemented by the code “UTR”.
For some time now, Utair has been struggling with various problems - including financial ones. The fact that the ICAO is now issuing a new three-letter code therefore raises a number of questions. Does Utair, such as the Norwegian Group, plan to transfer aircraft to a new AOC?
A request from Aviation.direct to Utair has so far remained unanswered. The fact is, however, that Utair already has three AOCs:
- AOC # 06: PJSC Utair Aviation (with 15 ATR72-500, 6 Boeing B737-400, 18 B737-500, 15 B737-800 and 3 B767-200ER)
- AOC # 34: JSC Utair Helicopter Services (with a total of 196 different helicopters, but mainly Mil Mi-8)
- AOC # 53: JSC Utair (with 1 Bombardier Challenger 300, 3 Antonov An-2, 11 An-24, 2 An-26 and 5 An-74)
Whether the ICAO as Utair Limited It is not clear whether the company referred to is a new company. Due to different interpretations of legal entities from state to state, the Canadian-based ICAO may have mistakenly used the term "Limited" instead of the legal forms commonly used in Russia, OOO, JSC, OJSC or PJSC.
Nevertheless, the shareholders of Utair approved a debt restructuring project at the annual general meeting on July 22, 2021. This means that 4,194 billion additional shares (at 3,25 rubles, approx. 4 euro cents) were issued to flush around 160 million euros into the cash register. At the same time, Utair was able to reduce debt by about 2021% to 50 billion rubles (about 1,1 million euros) in the first quarter of 12,7.
A large order for 50 Mil Mi-171 (Mi-8AMT) was placed with Russian Helicopters for Utair-Helicopter Services. These helicopters should be delivered as early as next year.
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