The Federal Air Transport Agency (Rosaviatsia) extended the AOC of Pskovavia, thus allowing the carrier to seek investments via a share sale. Without the extension, the airline had planned to file for bankruptcy, according to region's State transport head, Igor Silchenko.

The operating certificate had expired earlier this week, but Pskovavia adopted several measures, including repayment of its debt owed to aircraft lessors. The State had also requested earlier that the carrier allocate 6-10 million rubles a month to continue operating.

Pskovavia operate a fleet of aircraft and helicopters, including AN-24, and employs over 250 people.