Russia’s Aeroflot, which revealed plans to buy Transaero Airlines Sept. 1, will acquire 75% plus one share of Transaero for RUB1 (1.53 US cents), TASS news agency reported, quoting Russia’s deputy prime minister Igor Shuvalov.
If the transaction is approved by Aeroflot’s board of directors, Aeroflot Group will get half the Russian airline market.
The deal follows Transaero’s increasing debt burden. In the 2015 first half, its loans and similar liabilities reached RUB67.5 billion ($1.2 billion).
At the end of December 2014, Russian Prime Minister Dmitry Medvedev signed a government resolution guaranteeing a three-year RUB9 billion loan to be provided by VTB Bank, which is 60.9% owned by the Russian government. In return, Transaero agreed to freeze domestic fares in 2015, and reduce fares by 5%-7% on domestic routes served exclusively by Transaero.
On Jan. 30, 2015, Transaero received a three-year RUB9 billion loan from VTB Bank, backed by the Russian government. According to VTB Bank, the loan planned to be used to finance the carrier’s operations.
Following approval from the UK Civil Aviation Authority, above™ is ready to start commercial operations, bringing a fresh approach to private aviation. Operating from its base at Birmi...
United announced its latest United Economy class innovation: a row of Economy Plus seats on its new Airbus A321XLR aircraft with extra elbow room and access to a shared table across an open middl...
Horizon Aircraft has selected BETA Technologies to supply its advanced flight control computers on the Company’s full-scale hybrid-electric VTOL aircraft, the Cavorite X7. Through this...
FlyBy Aviation Academy has reached 17,000 hours of practical flight training during the first six months of 2026, a figure that confirms the Academy's sustained growth. This figure reflects the in...
