Bylina (Moscow Vnukovo) will have its Air Operators certificate (AOC) suspended with effect from September 1 Russia's Federal Air Transport Agency (Rosaviatsia) has announced.

In its directive, the regulator said the decision to revoke the Bylina's operational status was due to the deterioration of its financial situation. As a result, the carrier has canceled all scheduled flights from August 26 to September 19 and announced a refund for all who had purchased tickets.

Rosaviatsia said Bylina had sold more than 2,000 tickets for domestic flights to Anapa, Gelendzhik, Ivanovo, Krasnodar, Perm Bolshoye Savino, Chelyabinsk Balandino and Simferopol valid through September 13, 2014.

Bylina is an executive private and business charter specialist whose fleet includes three Yak-40s, one Yak-40(F), five Tu-134s and various other business jets.