Ilyushin Finance register a company in Ulyanovsk and has acquired 74% of Red Wings airline shares

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Ilyushin Finance register a company in Ulyanovsk and has acquired 74% of Red Wings airline shares

The Board of Ilyushin Finance has decided to draft a plan of changing the company’s legal address from Voronezh to Ulyanovsk city and the according expenses calculation.

IFC Board has also confirmed its decision to acquire 74% of Red Wings shares as a part of the airline’s liabilities settlement.

This is being a subject to shareholders agreement revision to enhance IFC’s managing role in accordance with its increasing share in Red Wings capital.