“Aeroflot” will buy the company “Transaero” – RBC

Photo: RIA Novosti

The fact that the airline “Aeroflot” intends to buy airline “Transaero”, according to sources in the government and close to the “Aeroflot” to several Russian media. The decision was made Tuesday at a meeting of the under the direction of First Deputy Prime Minister Igor Shuvalov, a source told RBC familiar with its outcome. After the meeting, was commissioned in the near future to hold the board of directors “Aeroflot” which will decide on the purchase of 75% plus one share « Transaero », said the source.

information about the upcoming purchase of “Aeroflot” airline “ Transaero »confirmed by sources of the newspaper « Vedomosti ». The decision to sell was made today at a meeting with First Deputy Prime Minister Igor Shuvalov, told the publication, two sources close to the various participants in the meeting. The interlocutors have told the publication that the government will give a directive directors “Aeroflot” vote “for” on buying a stake in « Transaero ». The fact that The Cabinet of Ministers generally endorsed the impending deal also reported «Echo of Moscow”, citing sources close to the government, and «Aeroflot».

According to the source of RBC, the decision was taken due to the dire state of “Transaero”. Shuvalov instructed “Aeroflot” to fulfill all obligations to passengers “Transaero” (each purchased ticket must be provided), and all social obligations to employees of airlines implemented, no sudden movements. This should be monitored by the Ministry of Labor and Social Protection. A FAS should monitor the situation (the transition “Transaero” under control “Aeroflot”) for compliance with antitrust laws, he added RBC familiar with the outcome of the meeting Shuvalov.

The representative of the Federal Antimonopoly Service told RBC that the request for acquisition of Transaero not yet reported. Such a transaction would require detailed consideration and, if approved, are likely to be exposed to behavioral conditions, he added.

The financial problems of “Transaero” – the second Russian carrier by passenger traffic – are discussed in the market and the government last year. In September 2014 the company management appealed to the Ministry of Transport for support. The carrier requested to provide state guarantees for loans. Total debt to financial institutions – 66.9 billion rubles., Says the report, “Transaero” under RAS for the second half of 2014. The largest creditors of the airline are VTB and Sberbank.

In August, it was reported that Sberbank extended “Transaero” kovenantnye vacation until October 1, 2015 under the loan agreements with the bank. At the same time representative of VTB told RBC that is currently in the final stage of the is the preparation of the updated financial model « Transaero ». It was noted that banks are willing wait for the new business model, “Transaero” (“premium discounter”, implying, including increasing the affordability of air travel) will work in full force.