Volga-Dnepr Group comprised of AirBridgeCargo Airlines (ABC), Volga-Dnepr Airlines (VDA), ATRAN airlines (ATRAN) has reported a 6.0 per cent cargo decline in the first half of this year as it moves to restructure.
The cargo carrier group uplifted 2.59 million freight tonne kilometres which it says is 20 per cent below expectations and budget. The group cites the declining world cargo market, overcapacity and operational hurdles prevented the Group’s businesses profitability.
The Group says it has taken the decision to introduce a restructuring plan, aimed at quality enhancement, cost reduction and development of specialist services.
As such Nikolay Glushnev has been appointed as general director of AirBridgeCargo, replacing Sergey Lazarev. The group made no mention of Lazarev in its statement.
Glushnev has more than 14 years of experience in air cargo sector and held various positions within ABC up to director, Operations. “His key focus will be to restore ABC customers’ confidence,” the group says.
The Group says it “would like to thank its customers and partners for their support throughout the years of development and believes that the decisions aimed at restructuring of 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,” it adds.
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, five Il-76TD-90VD, 18 B747F, and five B737F) to deliver cargo for its customers from aerospace, energy, oil and gas, humanitarian and other industries.