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Kingston, Jamaica: March 20, 2014 – Against the background of dramatic currency fluctuations in Russia, their impact on airline operations and recent political developments, Transaero Airlines has announced a suspension of service between Moscow and Montego Bay for the summer.
The airline initiated the service in the winter of 2012/13. It proved successful and enjoyed good consumer response, sufficient to enable the airline to maintain the service through the entire year. However, Transaero has indicated it is not confident in its ability to maintain the same level of service this year.
Jamaica is one of the Caribbean destinations to which service will be affected and Transaero will suspend service to Jamaica on March 28, 2014 and is expected to resume service in November, 2014.
A year ago, the Russian ruble’s rate of exchange with the US dollar was 30 to 1; today it is 50 to 1. The company has outlined that this dramatic shift in the value of the ruble has impacted the cost of operating the service. As the Russian winter comes to an end, a decline in demand for travel to warm weather destinations informed Transaero’s decision.
In light of this development, the Jamaica Tourist Board’s (JTB) Regional Director in Europe has been dispatched to Moscow to keep in touch with the market and to protect the gains we have made there.