News / Job cuts on the cards as losses mount at Volga Dnepr

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Volga Dnepr has launched a round of severe cost cuts after booking a $38m loss last year, according to reports in the Russian media. Alexei Isaikin, president, told reporters: “We have to dramatically cut costs and implement a programme of survival.”

Sources in Russia claim that staff numbers at the group’s subsidiary, AirBridgeCargo, are being slashed, while other staff are being relocated out of the high-cost Moscow office, after profits from Volga-Dnepr’s An-124 business fell while the group simultaneously sustained losses ...