News / Problems mount for Volga-Dnepr after order to pay $400m damages

Volga-Dnepr Group has lost some $400m in damages, as well as one of its AN-124 aircraft, following a series of legal decisions in North America.

A judge has ordered AirBridgeCargo (ABC), the European subsidiary of Volga-Dnepr, to pay one aircraft lessor $406.2m.

The long-running case with BOC Aviation, which had three leases with ABC, has been closed following the judge’s decision to award damages to the lessor. BOC should receive $175.8m for the loss of one aircraft, $179.5m for a second and $50.7m for a third.

Despite an order last year by BOC for ABC to ground its three aircraft in Hong Kong, Shanghai and Zhengzhou, the carrier flew one to Moscow and diverted another to Dubai – where BOC tried to ground it again – before that too went on to Russia.

ABC told BOC it would refuse to return the two aircraft in Russia until BOC allowed the third to leave Hong Kong.

The two aircraft remain in Russia. They have been removed from commercial operations, but ABC said they could not leave without the approval of the country’s aviation authorities.

It is unclear whether ABC, which is re-launching operations with Russian aircraft, will be able to pay BOC the damages. It has yet to begin its new operations, using IL-96 aircraft formerly operated by now-defunct airline Polet. Images from last month show the aircraft in ABC livery, but without engines.

Meanwhile, ABC parent Volga-Dnepr looks as if it has lost one of its prized AN-124s.

Canada grounded the aircraft last year after it landed in Toronto just three days after Russia invaded Ukraine. The aircraft has since racked up some C$330,000 (US$245,000) in parking fees. But now Canadian authorities plan to hand it to Ukraine, whose airline Antonov also operates the type.

Ukraine’s prime minister visited Canada last week, just after the country had placed Volga-Dnepr Group on its sanctions list.