Ex-Red Wings CEO in Talks to Acquire Volga-Dnepr Group

Evgeny Solodilin, former CEO of Red Wings Airlines, is negotiating to acquire Volga-Dnepr Group through his recently established company, Evraz Avia Service (EAS Group), Kommersant reported on September 17. Industry sources say a preliminary agreement has already been signed for EAS Group to purchase Volga-Dnepr’s airline business, including Volga-Dnepr Airlines and its maintenance units Volga-Dnepr Technics and Volga-Dnepr Engineering. The deal’s value has not been disclosed.

Evraz Avia Service reportedly plans to seek government approval to return ten Boeing 747-8Fs once operated by Volga-Dnepr subsidiary AirBridgeCargo to foreign lessors. These widebody freighters have been grounded at Moscow Sheremetyevo since March 2022 due to US sanctions and insufficient maintenance capacity. The company also aims to recover three An-124-100s seized in Leipzig/Halle and add Il-96-400Ts and Tu-204-100Cs to the Volga-Dnepr fleet to build a “comprehensive cargo aviation ecosystem” combining freight operations, aircraft service, and maintenance.

Volga-Dnepr Group has struggled since Russia’s invasion of Ukraine, losing access to key Western markets and shifting focus to domestic and limited international services. Earlier this year, founder Alexey Isaikin suggested state control as shareholders approved renouncing property rights, paving the way for government takeover.

According to the Russian business register, Volga-Dnepr is co-owned by three Russian nationals and operates a shrinking fleet of nine An-124-100s, one An-124-100-150, and five Il-76TD-90VDs, much of it inactive. Solodilin founded Evraz Avia Service in February 2025 and has a track record in airport management and cargo aviation ventures.

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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com