Moskovia Airlines (Zhukovsky) will cease offering scheduled passenger flights from September 1 after a surprise inspection of the airline's operations earlier this month by the Russian Federal Air Transport Agency (Rosaviatsia) revealed glaring anomalies in the airline's finances.

The unannounced audit of the carrier's operations occurred in connection with a series of 'massive' multi-hour delays over the period July 11 to 13. Airline CEO Mikhail Alekseyev blamed the delays on a lack of suitable operational equipment which subsequently impacted negatively on Moskovia's finances.

The Izvestia newspaper reports the carrier has already been forced to suspend the sales of tickets for regular flights with effect from July 29.

"Rosaviatsia will conduct a thorough audit of Moskovia Airlines' operations - in particular its obligations to passengers, personnel, contractors and will, if necessary, impose additional restrictions - including the revocation of the carrier's Air Operators Certificate," the regulator said in a statement.

After September 1, Moskovia will become a charter operator whose scheduled status will only be reinstated once Rosaviatsia is satisfied that it has remedied all outstanding oversights.

Moskovia operates four SSJ 100/95s and one B737-700 on flights throughout Russia as well as to Uzbekistan and Montenegro.