Volga-Dnepr Group, comprising AirBridgeCargo Airlines, Volga-Dnepr Airlines and ATRAN airlines, has revealed its H1 results, which show that all three carriers experienced a 6% cargo volume decline.
Volumes for the carriers dropped to 2,586,382 freight tonne kilometers – 20% below expectations and budget – attributable to the widespread decline in the global cargo market, overcapacity and operational challenges.
The Group’s Board of Directors has taken the decision to introduce a management restructuring plan, aimed at quality enhancement, cost reduction and development of specialist services, which it believes will enable the growth strategy to get back on track this year.
As part of restructuring, Nikolay Glushnev has been appointed as General Director of AirBridgeCargo. He 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 customer confidence.