970x90 - Montreal - Desktop Sample
Order HereAeroflot’s plans to acquire Transaero Airlines have fallen through and the Russian government will allow Transaero to enter bankruptcy, placing the carrier’s future in serious doubt.
A source confirmed to ATWthat the Russian government has ruled out rescuing Transaero. ATW understands that the government decided Transaero’s debt burden was too high for a bailout to be viable.
On Sept. 1, it was announced Aeroflot would acquire struggling Transaero. Aeroflot, Russia’s largest airline, was ready to buy 75% plus one share of Transaero for RUB1 (1.53 US cents). But Aeroflot, which is 51%-owned by the Russian government, backed out of the deal when Transaero’s shareholders, which are led by Alexander and Olga Pleshakova, failed to consolidate 75% plus one share of the airline’s ownership by Sept. 28 in order to facilitate the Aeroflot acquisition.
The Sept. 28 deadline had been agreed to with Aeroflot, which refused to give Transaero’s shareholders more time.
Also, Russian media reported that Transaero’s main creditors could not come up with a solution for the airline’s debt problem. Transaero’s overall debt has reached RUB250 billion, Interfax agency has reported, quoting Sberbank president Herman Gref. Sberbank as one of Transaero’s biggest creditors.
Aeroflot has guaranteed it will fulfill obligations to Transaero passengers who otherwise would be stranded if the airline ceases operating. “The passengers will be carried or will be able to get a refund,” Aeroflot CEO Vitaly Savelyev said in a statement Oct. 1.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
970x250 - Melbourne - Desktop Sample
Order Here300x250 - Zurich - Desktop Sample
Order Here300x300 - Rome - Desktop Sample
Order Here300x600 - Paris - Desktop Sample
Order Here468x150 - Cape Town - Phone Sample
Order HereAeroflot’s plans to acquire Transaero Airlines have fallen through and the Russian government will allow Transaero to enter bankruptcy, placing the carrier’s future in serious doubt.
A source confirmed to ATWthat the Russian government has ruled out rescuing Transaero. ATW understands that the government decided Transaero’s debt burden was too high for a bailout to be viable.
On Sept. 1, it was announced Aeroflot would acquire struggling Transaero. Aeroflot, Russia’s largest airline, was ready to buy 75% plus one share of Transaero for RUB1 (1.53 US cents). But Aeroflot, which is 51%-owned by the Russian government, backed out of the deal when Transaero’s shareholders, which are led by Alexander and Olga Pleshakova, failed to consolidate 75% plus one share of the airline’s ownership by Sept. 28 in order to facilitate the Aeroflot acquisition.
The Sept. 28 deadline had been agreed to with Aeroflot, which refused to give Transaero’s shareholders more time.
Also, Russian media reported that Transaero’s main creditors could not come up with a solution for the airline’s debt problem. Transaero’s overall debt has reached RUB250 billion, Interfax agency has reported, quoting Sberbank president Herman Gref. Sberbank as one of Transaero’s biggest creditors.
Aeroflot has guaranteed it will fulfill obligations to Transaero passengers who otherwise would be stranded if the airline ceases operating. “The passengers will be carried or will be able to get a refund,” Aeroflot CEO Vitaly Savelyev said in a statement Oct. 1.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.
970x250 - Melbourne - Desktop Sample
Order Here728x90 - Cape Town - Tablet Sample
Order HereAeroflot’s plans to acquire Transaero Airlines have fallen through and the Russian government will allow Transaero to enter bankruptcy, placing the carrier’s future in serious doubt.
A source confirmed to ATWthat the Russian government has ruled out rescuing Transaero. ATW understands that the government decided Transaero’s debt burden was too high for a bailout to be viable.
On Sept. 1, it was announced Aeroflot would acquire struggling Transaero. Aeroflot, Russia’s largest airline, was ready to buy 75% plus one share of Transaero for RUB1 (1.53 US cents). But Aeroflot, which is 51%-owned by the Russian government, backed out of the deal when Transaero’s shareholders, which are led by Alexander and Olga Pleshakova, failed to consolidate 75% plus one share of the airline’s ownership by Sept. 28 in order to facilitate the Aeroflot acquisition.
The Sept. 28 deadline had been agreed to with Aeroflot, which refused to give Transaero’s shareholders more time.
Also, Russian media reported that Transaero’s main creditors could not come up with a solution for the airline’s debt problem. Transaero’s overall debt has reached RUB250 billion, Interfax agency has reported, quoting Sberbank president Herman Gref. Sberbank as one of Transaero’s biggest creditors.
Aeroflot has guaranteed it will fulfill obligations to Transaero passengers who otherwise would be stranded if the airline ceases operating. “The passengers will be carried or will be able to get a refund,” Aeroflot CEO Vitaly Savelyev said in a statement Oct. 1.
The information on this page may have been provided by a contributor and no guarantees can be made about the accuracy of any content. Contributors must obtain all necessary licenses and/or ownership rights from the relevant content owner(s) before submitting the same for publication. AIRLINE PARTNERSHIP disclaims all liability arising from the publication of content received from contributors. Please refer to our Disclaimer for more details.