Russia’s Volga-Dnepr Group is reportedly set to be sold in the first quarter of the year, following prolonged financial difficulties caused by international sanctions linked to the war in Ukraine.
According to Russian media reports, a formal sale agreement has been reached between Volga-Dnepr and EAS Group (Evraz Avia Service), led by Yevgeny Solodilin, the former chief executive of Zhukovsky Airport and Red Wings Airlines. The deal was reported by logistics publication Logirus.
The sale is expected to include several businesses within the group, including cargo airlines Volga-Dnepr, Atran and AirBridgeCargo, as well as Volga-Dnepr Technics and Volga-Dnepr Engineering.
Volga-Dnepr Group’s operations have been significantly reduced since sanctions were imposed in early 2022.
The company is reported to be operating only three Antonov An-124 aircraft out of a fleet of 11, along with five Ilyushin Il-76 freighters.
Four An-124 aircraft remain stranded abroad due to sanctions.
Atran’s fleet has reportedly been reduced to two An-12 aircraft, while AirBridgeCargo has 14 Boeing aircraft in storage, including nine Boeing 747-8 freighters.
Fleet data from Planespotters indicates Volga-Dnepr currently lists seven An-124 aircraft, excluding those impounded overseas, and five Il-76s.
Russian airlines have faced airspace bans from the UK, European Union, United States and Canada since the outbreak of the Russia-Ukraine war.
These restrictions have prevented carriers from flying over much of Europe and North America, severely limiting international operations.
One An-124 aircraft has been seized by Canadian authorities and has remained at Toronto Pearson Airport since 2022. Other aircraft are also reported to be held abroad.
EAS Group is expected to seek Russian government approval to return nine Boeing 747-8 freighters to their leasing companies.
It may also attempt to regain access to a Boeing 737-800 freighter held in Cologne, as well as three An-124 aircraft and spare parts stored in Leipzig.
