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.
In September 2026, General Atomics AeroTec Systems will put a major focus on Africa. With two trade show appearances, the German aircraft manufacturer is highlighting the strategic importance of...
FL Technics subsidiary FL Technics LLC, which provides Line Maintenance services across the Middle East, has expanded its approved capabilities by adding Airbus A350, Boeing 777, Boeing 787, and Boein...
Queensland-based Horizon Airways has signed an order for a second Tecnam P2012 STOL aircraft. Slated to join the Australian fleet by the end of 2026, this subsequent order rapidly...
WestJet completed the transformation of its remaining all-economy aircraft, fulfilling its commitment to update the interior of all aircraft that were formerly operated by Swoop or Sunwing airlines. T...
