Russia's Federal Air Transport Agency (Rosaviatsia) has extended the validity of Pskovavia's Air Operator's Certificate (AOC) until January 31, 2017. The regulator had restricted the scheduled carrier's AOC until December 7 over concerns about its financial outlook. The Russian regulator also announced the cancellation of the AOC of Arctic Airlines (Arktika).

A surprise audit in November found Pskovavia had more than RUB250 million (USD4.1 million) of debt, including RUB2 million (USD33,000) to Semyazino Airport for fuel and dispatch. According to ato.ru, Pskovavia is preparing a new business plan to enable it to ease its financial problems.

Pskovavia operates five An-24RVs and two An-26Bs on scheduled passenger flights connecting Pskov, Moscow Domodedovo, Kirovska, St. Petersburg, Bryansk, Semyazino, Kursk, Tambov, and Vologda as well as on domestic and international passenger/cargo flights.

Negotiations are underway to find a new carrier between Semyazino and St Petersburg, according to trc33.ru. The Bryansk route, which Pskovavia had planned to cancel in 2017, will be covered by S7 Airlines (S7, Novosibirsk) using an E170.