The heavily indebted Volga-Dnepr Group is to be taken over by the EAS Group (Evraz Avia Service LLC) during the course of Q1, 2026. It is a rescue plan to stabilize Russia’s largest cargo conglomerate. Volga-Dnepr became one of the main victims of the international sanctions imposed since 2022, following the Kremlin’s war on Ukraine.
Behind the EAS Group is Evgeny Solodilin, CEO of Red Wings Airlines and former head of Zhukovsky Airport, located east of Moscow. However, market experts are skeptical about whether the relaunch will be financially viable.
The sanctions caused the Volga-Dnepr Group’s business model to collapse. This scheme was based primarily on scheduled flights operated by group member, AirBridge Cargo (ABC) between the Far East and Europe, with stopovers in Moscow or Novosibirsk, as well as charter missions using AN-124 freighters for oversized and heavy items, most of which were commissioned by non-Russian customers.
Main task: driving debts down – fast
Today, all 14 of ABC’s Boeing freighters have been grounded, and only three of the 11 AN-124 Antonov freighters are still operational. In addition, the group’s subsidiary, Atran, now operates only two AN-12 turboprop freighters. One of its former B737-800Fs is chained at Cologne Airport in Germany.
Evgeny Solodilin has now been called in by the Kremlin’s aviation authorities that assigned him the role of a white knight, to save what can still be saved. His job is to draw up a restructuring plan that will reduce the huge amount of debt as quickly as possible. According to reports, the group owes more than USD 500 million to leasing companies. This mainly concerns nine Boeing B747-8 freighters owned by foreign leasing companies.
Fleet decision in favor of Russian aircraft
Since the Western sanctions regime will remain in place for the foreseeable future due to Russia’s continued attacks on Ukraine, Solodilin intends to operate Russia-built aircraft, such as the Tu-204, Tu-214, and IL96. They are to serve domestic routes as well as flights to neighboring countries that belong to the Eurasian Economic Union. This alliance, founded in 2015, consists of Russia, Kazakhstan, Kyrgyzstan, Belarus, and Armenia. Cargo flights to China are also planned. However, Chinese cargo airlines now carry more than 90% of the tonnage transported by air between Russia and China. It is therefore likely to be difficult for Solodilin and his crew to regain their former market share.
Prior to this, Volga-Dnepr founder, Alexey Isaykin, offered the Russian government to take over his aviation conglomerate in a patriotic, some say submissive step. However, Moscow’s Ministry of Transport turned down the proposal to prevent state property violating sanctions requirements.
Should Solodilin’s contingency plan be successful, nearly 1,500 jobs will be preserved. And the technical viability of a fleet can be maintained – one that remains crucial to the Russian aviation industry.
DME for sale
Moscow’s Domodedovo Airport (DME) will be put up for auction on 20JAN26, with a starting price of 132.3 billion rubles. The process involves the sale of 100% of the shares of DME Holding LLC and other companies in the group, the Russian agency, Interfax, reports with reference to the state auction information system.
This sale comes amid an operational downturn for the airport. In 2025, DME handled 13.86 million passengers, representing an 11% decline compared to 15.6 million in 2024.
Domodedovo management declined to comment on the sales process. According to the published terms, the purchase agreement will be signed within five business days after the winner is announced, and the transfer of ownership will be completed within a maximum of 30 days after payment.
In 2025, Domodedovo Airport significantly expanded its cargo handling capacity, with an additional 15,600 m² of storage space. This more than doubled the terminal’s handling capacity to approximately 440,000 tons per year. However, exact throughput figures for cargo volumes handled in 2025 are not available. DME was completely closed down several times in recent months due to Ukrainian drone attacks as a reaction to Russian air strikes.
