Russian Flag Carrier Aeroflot to Acquire Transaero Airlines
Aeroflot PJSC, Russia’s largest airline, will take over the country’s number two airline, Transaero Airlines, in a move that reflects the country’s economic turmoil.
The acquisition was approved by a government commission chaired by First Deputy Prime Minister Igor Shuvalov.
“In the interests of the development of the commercial aviation and creating one of the largest in the world group of airlines, the commission has approved the acquisition of JSC Transaero Airlines by Aeroflot group,” Transaero said in an e-mailed statement Tuesday.
The Russian flag carrier will get 75% of Transaero’s stock when the transaction closes. Interfax reported that Aeroflot is to pay one ruble for Transaero’s shares.
Transaero said that the transaction will help further develop Russia’s commercial aviation industry and create “one of the largest in the world group of airlines.”
The Russian newspaper Vedomosti said that the integration of Transaero into Aeroflot will take a year to complete.
(Photo: Accura Media Group)