A major Russian drone manufacturer, JSC Kronstadt, is facing serious financial trouble despite its ties to government contracts. The company is best known for building the Orion and Inokhodets UAVs, which are used both in military operations and for civilian purposes.
But according to recent reports, Kronstadt is now drowning in debt. In just the past three months, more than 40 lawsuits have been filed against the company, totaling over 626 million rubles (around £5.8 million). The biggest claims come from Innovative Technologies and Materials (about £1.4 million) and the Research Institute of Modern Telecommunication Technologies (around £2 million).
Industry insiders believe bankruptcy is becoming a real possibility. Nikolay Ryashin, the CEO of Rusdronoport, explained that subcontractors who never got paid have started filing lawsuits en masse to get their names on the creditors’ list.
What’s behind this financial collapse? One key factor seems to be the exit of Kronstadt’s main investor, AFK Sistema, back in 2022. Without that backing, the company has struggled to stay afloat and hasn’t been able to balance its books for the past two years.
It’s a striking reminder that even companies with government defense contracts aren’t immune to financial collapse if their investors pull out.
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