The Arbitration Court of St. Petersburg and Leningrad region extended by six months the bankruptcy proceedings of Transaero -- now with a deadline of 13 September 2018.

A representative of the bankruptcy trustee reported that the inventory of the debtor's assets is now underway, with estimates that it's worth approximately $1 billion.

Other bankruptcy cases against the carrier are pending in Frankfurt and Hong Kong.

The carrier, which suffered financial problems since 2012, had debts that exceeded its value by 144 times, according to the bankruptcy trustee. The airline is not expected to be able to repay all debts.