50 SKY SHADES - World aviation news

Aeroflot agrees to lead Transaero restructuring

Download: Printable PDF Date: 04 Sep 2015 13:29 category:
Publisher:
Aeroflot agrees to lead Transaero restructuring - Airlines publisher
Tatjana Obrazcova
Source: ATW

Russia’s Aeroflot has agreed to be involved in the restructuring of Transaero Airlines, Aeroflot said in a statement. The board decision comes three days after it agreed to acquire 75% plus one share of Transaero for RUB1 (1.53 US cents).

In making the decision, Aeroflot said it “took into account the factor of high social tension in the airline market.” The board requested Aeroflot management to immediately develop necessary steps to insure operational control of Transaero and to provide Aeroflot with corporate control during the restructuring.

Aeroflot also agreed to include Sberbank as a financial consultant for the process. Sberbank is one of Transaero’s biggest creditors.  Transaero’s overall debt to Sberbank has reached RUB250 billion, Interfax agency reported quoting Sberbank president Herman Gref. Gref added that the exact volume still has to be agreed between the parties. This amount includes payments and principle under lease agreements with Sberbank Leasing, a subsidiary of Sberbank.

Gref blamed Transaero management for the carrier’s problems.



Loading comments for Aeroflot agrees to lead Transaero restructuring...


Recommended

50 years since the inaugural flight of the first Cessna Citation 500

Time to celebrate! 50 years since the inaugural flight of the first Cessna Citation 500!  Textron Aviation Citation family represents the most-popular line of business jets with more than...

Airspace Connected Experience: Pioneering Internet of Things in the aircraft cabin

Did you think about how fast the flying passenger connected experience is changing: improving, offering more opportunities and better services? Airbus A350-900 Flight Lab aircraft started...

Earn While Learning - check out Piper Aircraft Apprenticeship Program

The first group of apprentices has begun their two year-program at Piper Aircraft. The first nine apprentices, who started work in August, shadow skilled aircraft assembly workers and learn all aspect...

Pleasure to meet - new look of Cambridge City Airport

Cambridge City Airport has unveiled its contemporary new branding and website showcasing all of the features that make itone of the UK’s most well equipped regional airports. The website is p...