Russia freezes Armenian Aquila Technics’ assets Claim about undelivered engines

The Arbitration Court of Russia’s Tyumen Region has decided to freeze the accounts of the Armenian Aquila Technics aircraft maintenance company in the amount of almost 176 million rubles ($1,904) and $1.5 million in a claim by the Russian Utair airline for undelivered engines.

According to the court, the claim for collecting 176 million rubles from Aquila Technics company was considered on April 2, 2023, Kommersant reports.

Proceeding from the court documents, Utair and Aquila Technics company entered into an agreement to supply engines to Tyumen airport for the airline’s aircraft on May 30, 2022. However, the Armenian company did not deliver engines within the specified period and did not return the money. Utair appealed to the court in early October 2023.

“The interim measures, requested by the applicant, are related to the claim and are proportionate to it, and will not entail an imbalance of interests of the sides. The funds in bank accounts [as well as future income] and/or other movable and/or immovable property of Aquila Technics company must be frozen within the amount indicated in the claim,” the court’s ruling reads.

Aquila Technics company is based at Yerevan Zvartnots Airport. The company services Boeing 737CL and Airbus A320 aircraft possessed by Air Armenia, Air Arabia, FlyDubai, Aegean, Qatar Airways.