Arab Today, arab today russias aeroflot acquires rival transaero airline
Last Updated : GMT 21:46:51
Arab Today, arab today
Arab Today, arab today

Russia's Aeroflot acquires rival Transaero airline

Arab Today, arab today

Arab Today, arab today Russia's Aeroflot acquires rival Transaero airline

Aeroflot aircraft taxies
Moscow - AFP

Russia's state-controlled flagship carrier Aeroflot announced Thursday that it would acquire its struggling competitor Transaero airline.

"Given the extremely difficult financial situation of Transaero," along with an initiative of the Russian government, "Aeroflot's board of directors has judged it necessary to participate in stabilising" the airline, said Aeroflot in a statement of the acquisition for a symbolic price of one ruble.

The announcement came after a decision to consolidate the two airlines was made at a government meeting earlier this week.

"Transaero's majority shareholders have sent Aeroflot a proposal to sell 75 percent of its stocks plus 1," Transaero said in a statement earlier Thursday.

"The company's shareholders are convinced that the Russian government's plan to consolidate the air transportation sector will be realised," it added.

Transaero, which began operating in 1991, is the second-largest Russian airline and the country's largest privately-owned carrier.

The indebted company's woes worsened when the ruble collapsed last year on the back of Western sanctions over the Ukraine crisis.

Aeroflot, which is 51-percent owned by the Russian government, grew out of the Soviet monopoly of the same name.

Although Aeroflot did not suffer from the economic crisis as much as its competitors, the company lost 3.5 billion rubles ($52.4 million) in the first half of the year.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russias aeroflot acquires rival transaero airline Arab Today, arab today russias aeroflot acquires rival transaero airline

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russias aeroflot acquires rival transaero airline Arab Today, arab today russias aeroflot acquires rival transaero airline

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday