The first of September, it was announced the creation of the single largest aviation group in Russia. Group “Aeroflot” will become the second-largest passenger airline of the country – “Transaero”. What caused such a decision, and as the union impact on air travel market, understands “Times».
The fact that a group of “Aeroflot” will acquire 75% + 1 share in the airline “Transaero” became known on September 1 after inter-ministerial meeting chaired by First Deputy Prime Minister Igor Shuvalov.
The main condition for the approval of the government was the implementation of “Aeroflot” of all obligations for passengers.
Another condition – avoid abrupt changes in personnel policies and staff reductions. This Shuvalov instructed the FAS to monitor the situation in the airline industry due to the impending deal.
told “Gazeta.ru” a source close to the discussion before regulators had to choose: either the sale of “Aeroflot”, or bankruptcy.
Against the bankruptcy were representatives of the transport unit in the government, fearful of loud publicity and possible human displacement that would have followed a major bankruptcy.
As of August 1, “Transaero” has sold 1.5 million tickets, of which 1.4 million – with the date of departure before the end of October 2015, according to the Ministry of Transport of materials (available to “Gazety.Ru»).
In August, “Transaero” conducted several large-scale rasprodazhnyh shares with departures to spring 2016, thereby, in effect, capturing the passengers hostage. Last month the airline had seen such price tariffs, as Moscow-Berlin in 5300 rubles., Moscow-Vienna – for 7400 rubles., Ekaterinburg-Vienna for 4800 rubles., Moscow-Vilnius – 2400 rubles., Moscow-Delhi for 12200 rub., Moscow, Rostov-on-Don for 2150 rubles., Moscow-Novosibirsk for 6700 rubles. All rates are per ticket “back and forth”, including related fees.
Financial collapse
Financial indicators airline deteriorated significantly not only in the last year. The situation has not improved and the company after receiving a loan from VTB to 9 billion rubles. state guarantees for the government in January 2015. Already in May, according to “Gazety.Ru” in a pool of creditors airlines conducted discussions on the restructuring of the carrier, after which the airline, according to unofficial information, intended to request new state guarantees. Representatives of the air carrier, however, denied these reports.
However, according to “Gazety.Ru”, “Transaero” still apply for additional state guarantees in the amount of 1.5 billion rubles.
Despite plans to resolve the crisis, an operating loss of “Transaero” for the II quarter in 2015 amounted to 8.1 billion rubles., an increase of more than doubled from 3 billion rubles. in the first quarter of this year. In terms of passenger’s loss amounted to 2.3 thousand. Rub. per person.
As indicated in the materials of the Ministry of Transport (available to the “Gazety.Ru”), August 18, the amount of accounts payable amounted to 82 billion rubles, of which about 40 billion rubles. – Credits in foreign currency converted into rubles at the current rate, and 42 billion rubles. – Loans in rubles.
The financial and operating loans “Transaero” in the long term amounted to about 150 billion rubles. Owes the airline and counterparties: debt airline before “Rosneft” has exceeded 4.1 billion rubles., In front of “Gazpromneft” – 5.2 billion rubles. In August, a claim for 1.3 billion rubles. to “Transaero” gave the bank “FC Opening”.
What’s next?
Fear of traffic jams passengers is not necessary. According to the source “Gazety.Ru” familiar with the situation, it was decided to make a deal to “no canceled flights.” But the appearance on the market of a major aviation group, the share of which will have about 40% of all passenger traffic in the country (based on current statistics Federal Air Transport Agency), according to many experts, will inevitably lead to and increase in ticket prices.
«Strengthening monopolization never reflected in the cost of services towards their decrease, is a general economic law”, – said chairman of the Union of passengers Kirill Yankov.
According to him, “there superperevozchik, which will have more than half the market for international air travel and transportation from Moscow to other cities.”
Due to the fact that the cost of tickets will increase in some areas, agree and independent aviation Analyst, a member of the Higher School of Economics Andrey Kramarenko. “On domestic routes the price will remain virtually unchanged – he said in a conversation with” Gazetoy.Ru. ” – This year, the introduction of fixed tariffs “Aeroflot” the government has shown that it is ready to go for a compromise. ” But this is unlikely to be applied to flights on international routes, especially those which operate only “Aeroflot” and “Transaero”.
«For the official rates in Bangkok or Phuket to the possible public resonance of little interest, most importantly, to the Far East rates were acceptable,” – said Kramarenko.
Special headache can result in unification of the two carriers to the tour operators, who planned to conclude with “Transaero” contracts for the charter flight. If the order of the government, and the conservation of all obligations to the passengers, the decision of whether it concerns the obligations of “Transaero” before the legal entities, which are the tour operators?
The charter business is not the main, or at least a particular interest for the “Aeroflot».
In the first half of last year, before the bankruptcy of tour operators “Ideal Tour” and “Labyrinth”, charter services actively involved in one of the “daughters” of “Aeroflot” – “Orenburg airlines”. After a series of bankruptcies among the major tour operators in the summer of 2014 “Orenburg airlines” have switched to regular service. But revenues from charter passenger traffic from a group of “Aeroflot” has decreased several times in the I half-year: 2.1 billion against 7.154 billion rubles. in the first half of 2014 (according to the financial statements in accordance with IFRS).
In the segment of charter flights with a high probability You can expect an increase in ticket prices.
In turn, the rise in charter programs will reduce the already shortened in the past year and a half program of foreign operations and foreign tours more soar in price (estimated market participants, the share of air transportation in the tour price ranges from 30% to close areas up to 80% on long-haul routes).
«Aeroflot» the ruble does not take care
Meanwhile, in the short term is necessary to solve the question of how to deal itself will be designed for the integration of “Transaero” in the air group of “Aeroflot”. On Thursday, the board of directors “Aeroflot” will consider the possibility of rehabilitation “Transaero”. The amount of the transaction at the same time can be 1 ruble.
«Transaero” – “is not an asset and a liability,” so an option with readjustment formal cost airlines at a rate of 1 ruble. – A logical option, sure Kramarenko.
«This is not about buying, but about rehabilitation”, – says Anatoly Jodorowsky, Deputy General Director of Investment Company “Region”.
«If the present form of consolidation” Aeroflot “and” Transaero “, the capital of” Aeroflot “is negative,” – said the expert.
«Thus, there is need for additional capitalization of the company – says Jodorowsky. – The way to not tell anyone, because it is not, but some options will be developed after a detailed analysis of the “Transaero”, which is yet to be determined “Aeroflot”.
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