The Board of Directors of Aeroflot – Russian Airlines considered purchasing 75% plus on share of Transaero Airlines. The decision was made during a meeting held by the first Vice Premier of Russian Federation Igor Shuvalov, Vedomosti reports with reference to two sources close to participants of the meeting.
The government will instruct members of the Board of Directors to vote for purchasing the share in Transaero Airlines, one of the sources said. A representative of Aeroflot confirmed the plans for purchasing the Transaero’s shares.
Transaero told AEX.RU that the airline would be consolidated into Aeroflot Group. "A meeting of an interdepartmental commission chaired by the First Deputy Chairman of the Russian Government Igor Shuvalov was held; the meeting was dedicated to development of the air transport industry. For the benefit of further development of the civil aviation and establishment of one of the world’s largest air transport groups, the consolidation of Transaero Airlines into Aeroflot Group was approved. Shareholders of the airline hope that this step will protect the interests of passengers, employees and partners of the carrier. Chairman of the meeting highly appreciated the role of founders, managers and all the employees of Transaero in the modern history of the national civil aviation," press-service of Transaero noted.
According to Vedomosti, Transaero had two options: 1) shareholders agree that another company, for example Aeroflot, will manage the airline; 2) the carrier will be declared bankrupt. It was reported by a federal official. Transaero CEO and co-owner Olga Pleshakova is unable to improve the carrier’s situation, but she tries to blackmail the government with the number of sold tickets; the government is not happy about that. «It is easier to provide Aeroflot with a subsidy to help it transport Transaero’s passengers, than try to save the airline, which is constantly invoicing the state and blackmailing it with passengers,» the official said. An ultimatum has not been set yet, but it’s a matter of time, the source said.
Decision on selling Transaero has already been made. Shareholders of Transaero have no choice, the source added. Major shareholders of Transaero are Olga Pleshakova and Alexander Pleshakov. Transaero will be handed over to Aeroflot gradually – it will take about a year, the source noted. Shuvalov demanded that all the obligations owed to passengers and employees of the carrier must be fulfilled and no social disruption should take place, a source close to one of participants of the meeting said.
Aeroflot’s Board of Directors has already considered the possibility of reorgainization of Transaero. "The Board of Directors of Aeroflot has already considered the possibility of reorgainization of Transaero. The value of the deal will be 1 ruble," a source reported.
