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

Falcon Aviation Continues to Spread its Wings

Falcon Aviation, a well known UAE company in constant development. What are key development points to know: Annual turnover up 50 percent in in 5 years Falcone became ASF for De Havi...

De Havilland Canada appoints Falcon Aviation Services as ASF

The day before iofficial Dubai Airshow opening, De Havilland Canada announced an agreement with Falcon Aviation Services that will enhance support to operators of Dash 8-400 aircraft in...

Air BP Airfield Automation digital technology to help prevent misfuelling

Air BP is rolling out its digital Airfield Automation technology at Emirates Flight Training Academy (EFTA), located at Al Maktoum International Airport (DWC).  This is the first location in...

Dassault Falcon 8X, 900LX trijets at Dubai Airshow 2019

Only Two days left till Dubai Airshow, so get ready! What you can expect from Dassault Aviation? Here are some details: an ultra-long range large cabin Falcon 8X flagship and super versatile 900L...