The russian airline Azimut is rapidly approaching bankruptcy. According to the results of 2025, against the background of the economic crisis and the decline in real incomes of the population, the carrier's net profit decreased by 30.9% compared to 2024. Gross loss increased 1.5 times - to RUB 2.778 billion, loss from sales increased by 34.5%, reaching RUB 3.608 billion. Other income decreased by 11.3%. This is stated in the message of the Foreign Intelligence Service (FIS) of Ukraine.
"The root cause of the collapse is the systemic degradation of the russian economy, provoked by the war against Ukraine and international sanctions. Inflation and rising prices have deprived a significant part of russians of the opportunity to buy air tickets: when there is a lack of money for food and clothing, flight expenses are reduced first. Demand falls - the company's revenue follows it," the intelligence reveals.
It is also noted that the company's situation is complicated by technological dependence on imported components. According to the FIS, the carrier's entire fleet - 19 Superjet 100 aircraft - is formally a russian product, critically dependent on foreign parts.
"Despite the Kremlin's assurances of successful import substitution, an effective alternative has never appeared: due to sanctions and destroyed logistics, aircraft maintenance has become an extremely expensive and time-consuming task. Each flight widens the hole in the company's budget, and the shortage of spare parts turns a flight into a deadly lottery," the intelligence officers add.
At the same time, the FIS emphasizes that basing itself in the south of the aggressor country of russia - at the airports of Krasnodar and Mineralnye Vody - has become an additional trap for the carrier. Thus, regional airports are either systematically closed or operate with significant restrictions due to the war, depriving the company of operational stability.
According to intelligence sources, the only thing keeping Azimut from immediate collapse is state subsidies from a budget depleted by military spending. In fact, the carrier does not exist at the expense of commercial transportation, but on artificially replenishing taxpayer funds, most of whom can no longer afford to fly. Without this support, the company would have ceased to exist much earlier - since it does not earn money on its own.
"Azimut has become a hostage to a situation over which it has no influence: constant uncertainty, military risks and closed airports are methodically destroying any prospects for development. And for this "stability" russian business should thank putin exclusively," the FIS summarizes.
As Ukrainian News Agency earlier reported, according to Ukrainian intelligence, russia is increasing pressure on its business in order to attract additional funds to finance the war against Ukraine.
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