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All over for Polet?

December 11 - It appears that Polet Airlines has suspended its passenger and cargo operations, following an ongoing case involving Moscow Arbitration Court.

According to reports in the international media, Moscow Arbitration Court has placed the airline into administration - a fate which seems to have stemmed from Polet's failure to meet an agreement concerning the airline's two AN-124s, as well as some other aircraft.

HLPFI reported in February 2014 that Polet had claimed information about a court decision to ground its AN-124s was incorrect. The airline told HLPFI that it was taking measures to cancel the Moscow Arbitration Court decision and an appeal had been sent.

Reports regarding the arrest of one of Polet's AN-124s in the UK followed in March of this year, while in April it seemed that one of the Antonov aircraft had been released, but the Russian court had begun efforts to terminate its lease once more.

A report on a Russian aviation website suggests that a monitoring procedure was imposed on Polet due to a debt of 163 million rubles in lease payments, with the basis of this apparently a claim by Ilyushin Finance Co. (IFC).

The precise details of the decision are hazy, but considering recent attempts to find out about the airline's current situation have bounced back to the HLPFI inbox, it would seem that the there is more than a little bit of truth in the Polet shutdown reports.

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