2001 to present
The airline terminated its joint venture with HeavyLift on 1 February 2001, with the stated reason to enable the airline to attract the investment that it needed to expand its fleet.[10] The airline also set up marketing subsidiaries in London, UK and Houston, Texas.[10]
Shortly afterward, HeavyLift joined its UK competitor, Air Foyle, which was the worldwide sales agent of Volga-Dnepr Airlines' Ukrainian competitor, Antonov Airlines, to form a new joint venture, Air Foyle HeavyLift.[11]
In 2001, the Volga-Dnepr Group was formed, with Volga-Dnepr Airlines being its first company and the key element of its chartered cargo subgroup. In 2004, the Group created AirBridgeCargo to be the key element in the Group's scheduled cargo services subgroup.[12]
In 2002, the airline suspended funding of an An-124-100M being produced by Aviastar due to a dispute between Aviastar and local politicians in Ulyanovsk in which the local government seized the aircraft. According to Volga-Dnepr, the founder of Aviastar refused to bribe local politicians and businessmen to secure their cooperation. Volga-Dnepr threatened to move its headquarters from Ulyanovsk at the time, saying that the airline was well known for having "a clear accounting system and good business reputation", and that it would move "from Ulyanovsk in order to preserve these qualities".[13] The dispute was resolved and the airline resumed funding production of the aircraft.[14]
The airline began flying chartered missions for the US Air Force Air Mobility Command in 2003, eventually ferrying thousands of tons of vital military equipment to U.S. operating forces in Iraq and Afghanistan. In 2005, the airline established a subsidiary in Houston, Texas that committed to making An-124 aircraft available to Air Mobility Command in the event of a national emergency, qualifying Volga-Dnepr to bid for cargo charters from Air Mobility Command and other US government agencies.[15]
In 2005, the airline and its Ukrainian competitor, Antonov Airlines, formed a partnership, Ruslan SALIS, which signed a three-year contract with NATO to provide strategic airlift services to the alliance's Strategic Airlift Interim Solution (SALIS). The contract was renewable through 2012 and required Ruslan to maintain two An-124 aircraft in a ready state in Leipzig, Germany, with an additional four An-124 aircraft available if needed.[16]
Antonov Airlines terminated its joint venture with Air Foyle HeavyLift on June 30, 2006, to pursue a joint marketing venture with its competitor, Volga-Dnepr Airlines. This venture was named Ruslan International, and it aimed to build on the success of their previous Ruslan Salis collaboration.[17]
In 2007, Volga-Dnepr and its Irish subsidiary were debarred from U.N. contracting after it surfaced during the trial of Vladimir Kuznetsov, formerly the highest-ranking Russian diplomat at the United Nations, that bribes were paid to Alexander Yakovlev, a U.N. procurement official, and laundered by Kuznetsov. Kuznetsov was found guilty and Yakovlev pled guilty,[18] and testified against Kuznetsov, for crimes of fraud and money-laundering related to the bribes. Both were imprisoned as a result.[19] Yakovlev claimed to provide consulting services and billed in excess of US$700,000 to Volga-Dnepr in order to help them win tenders. The Office of Internal Oversight Services Procurement Task Force found that, between March 2000 and November 2004, Yakovlev received funds exceeding US$1.8 million into an off-shore bank account from Volga-Dnepr and ICT, a company working on contract procurement for Volga-Dnepr at the time. The report found that the actual sum received could be even higher, as the sources for substantial other sources of funds could not be identified. In a response letter to the report, Volga-Dnepr admits to making payments to Yakovlev, but insists Yakovlev was a paid consultant, and the company was unaware of involvement or influence over the bidding process.[20] In the same period, The UN contracted over US$134 million to Volga-Dnepr.
In December 2012, Ruslan Salis' NATO contract was extended through the end of 2014, having previously been extended in 2008 and 2010. Prior to the annexation of Crimea, it appeared likely that the contract would be extended for yet another two-year term.[22]
In early 2015, without notice to the company or affording the company an opportunity to be heard, US TRANSCOM removed privately owned Volga Dnepr from its approved airlift vendor list together with several government-owned Russian flag air carriers. Despite a FOIA action which it eventually abandoned, Volga-Dnepr never received a United States Department of Defense explanation for its removal from the TRANSCOM vendor list. From the redacted reports obtained by journalists, however, it was heavily implied, but never proven, that Volga-Dnepr was blacklisted by the US military for delivering Russian-built fighter aircraft on behalf of Rosoboronexport to Vietnam in December 2014. Notably, during that same year, the U.S. Army took delivery from Rosoboronexport of the last lot of Russian-built Mi-17 helicopters (45 in all) which it had purchased for transfer to Afghanistan, and U.S. Secretary of State John Kerry lifted U.S. sanctions against Vietnam.[23]
In August 2015, Volga-Dnepr paid $11,250 for a speaker's fee for Michael T. Flynn's appearance at a Washington, D.C. event on economic security in the Middle East it co-hosted with another American company. Danny Yatom, former director of the Israeli Mossad, was also a distinguished guest at that event. The event was held nearly 6 months after Volga-Dnepr was removed from the TRANSCOM vendor list.[23] Because of Volga-Dnepr's crucial airlift role in the U.S. war effort in Iraq and Afghanistan, the company had become acquainted with a wide variety of senior U.S. military and diplomatic officials, active and retired. Indeed, a serving U.S. Air Force general officer who later served as Air Force Chief of Staff actually took the controls and piloted a Volga-Dnepr An-124-100 in flight during a mission to Scott Air Force Base. Michael Flynn's appointment as national security adviser came long after Volga-Dnepr's removal from the TRANSCOM airlift list and long after Flynn's retirement. As the company later explained: "At that time General Flynn was a retired military officer, not a member of President Trump's election team, and his nomination as National Security Adviser more than a year after the conference was not a factor in his being invited as a speaker".[24]
In July 2021, Volga-Dnepr stated that it is preparing to place its first bond issue worth up to US$96.4 million to refinance its existing debt.[25]