Russia’s Tulpar Air Seeks $3.1M From Former Owner, Executives

Tulpar Air Aviakompania has filed a lawsuit seeking RUB250.8 million (USD3.1 million) in damages from former owner Azat Hakim, former general directors Sergei Trifonov and Oleg Zakharov, and Hakim’s investment company, Tulpar Aero Group. The Tatarstan Arbitration Court accepted the claim on April 16, 2025, with the next hearing scheduled for May 22.

The specific details of the claim have not been disclosed, but it follows a series of legal disputes between Tulpar Air and Hakim, who previously held a 49% stake in the airline. He sold his shares in March 2023 for RUB420 million (USD5.2 million), later arguing they were undervalued. In December 2024, a court partially sided with Hakim, awarding him RUB451 million (USD5.6 million).

In February 2025, Tulpar Air filed for bankruptcy, citing RUB588 million (USD7.3 million) in outstanding debt. The current compensation claim appears to be part of the airline’s effort to recover losses attributed to its former leadership.

Despite the bankruptcy, Tulpar Air continues operations. It holds a commercial certificate for two Challenger 300s, one Global 5000, and two Challenger 850s. The company is now fully owned by TAIF, a regional investment fund.

Tulpar Aero Group, named in the lawsuit, remains 80% owned by Azat Hakim and 20% by his son Aydar. It also controls a 59% stake in a separate operator, Tulpar, which continues to operate independently from Tulpar Air. Oleg Zakharov, a defendant in the case, currently serves as general director of that entity.

Related News: https://airguide.info/category/air-travel-business/airline-finance/

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