Tags: Airline.
Specavia (or Volgograd-Spetsavia Russian Волгоград-СпецАвиа)) was a cargo airline based in Volgogrod Russia. It was established in 1997 and ceased operations due to bankruptcy in 2006. Bankruptcy was blamed on a 50% drop in demand which led to a 20% fall in income in 2005. The airline ceased operations with debts of over 10 million roubles.