Russia’s UTair completes sale of Katekavia subsidiary

Russia’s UTair Airline has completed the sale of its Katekavia subsidiary. The carrier was rebranded to Azur Air as a result of the deal, but continues using an air operator’s certificate with the Katekavia name,ATW reported.

According to Russia’s Federal Tax Service registry, 100% of Azur Air is owned by One2fly. The register states 80% of One2fly belongs to businessman Ibragim Nurmanov, while a 20% share is owned by Rustem Kockar. 

The carrier operates charter flights for travel company Anex Tour, which is a member of Turkish Anex Tourism Group (ATG). Russian media outlets have reported Azur Air joined ATG though the carrier, but representatives do not confirm that. According to Russian legislation, foreign investors cannot own more than 49% of a Russian airline.

UTair’s Ukrainian subsidiary was also sold and has been rebranded as Azur Air Ukraine.

Russia’s Azur Air fleet comprises nine Boeing 757-200s and five 767-300s, which may increase next year.

The airline continues to operate leisure routes despite the closure of Egypt and Turkey markets. The airline has launched flights to Israel and Dubai in the IATA 2015/2016 winter season. In addition, the airline started flights to Cambodia and the Dominican Republic. 

According to Russia’s Federal Air Transport Agency, Rosaviatsia, in Jan-Oct 2015, Azur Air carried 2.06 million passengers, up 11.7% year-over-year. The carrier’s load factor reached 94%, up from 70.6% in the year-ago period.