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Georgian Airways has said it is suffering serious losses due to a sharp rise in aviation fuel prices, Georgian outlet BMG reports. According to a representative of the airline, on some flights fuel costs already exceed revenue from ticket sales.
The company is now reducing frequencies on less busy routes. A specific list of routes has not been named.
If the fuel situation does not change, Georgian Airways says there is a risk of moving into bankruptcy proceedings. The company is currently holding consultations with the Georgian government.
According to BMG, the carrier hopes to find a solution that will allow it to continue operating as normal.
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