Volga-Dnepr Group which consists of three air cargo carriers – AirBridgeCargo Airlines (ABC), Volga-Dnepr Airlines (VDA), ATRAN airlines (ATRAN) – has summed up its H1 results. All three carriers demonstrated 6% cargo volume decline till 2,586,382 thousand freight tonne-kilometres which is 20% below expectations and budget.
Decrease of the world cargo market, overcapacity and operational hurdles prevented the Group’s businesses profitability. The Group’s Board of Directors has taken the decision to introduce restructuring plan, aimed at quality enhancement, cost reduction and development of specialist services.
The Group would like to thank its customers and partners for their support throughout the years of development and believes that the decisions aimed at a restructuring of the management team and increase of operational effectiveness will allow the Group to get back to the growth strategy this year. The restructuring is also focused on keeping the high level of service quality for the customers worldwide.
As part of the restructuring, Nikolay Glushnev has been appointed as General Director of AirBridgeCargo. He has more than 14 years of experience in the air cargo sector and held various positions within ABC up till Director, Operations. His key focus will be to restore ABC customers’ confidence.
Volga-Dnepr Group has been at the market for more than 29 years offering comprehensive logistics solutions, both chartered and scheduled, for the most challenging projects. It operates the diversified fleet of 41 freighters (12 An-124-100, 5 Il-76TD-90VD, 18 Boeing 747F, and 5 B737F) to deliver cargo for its customers from aerospace, energy, oil and gas, humanitarian and other industries.