Aeroflot To Buy Transaero

Aeroflot is set to buy fellow Russian carrier Transaero after a government commission backed the flag carrier’s move to acquire a 75 per cent stake in the airline.

Aeroflot is set to buy fellow Russian carrier Transaero after a government commission backed the flag carrier’s move to acquire a 75 per cent stake in the airline.

In a statement, a spokesperson at St. Petersburg-based Transaero said the deal had been approved “in the interests of the development of the commercial aviation industry and creating one of the largest airline groups in the world.”

According to local media reports, Aeroflot will take on Transaero’s debt of around €1.4bn ($1.5bn) and will merge the airline into its group of companies.

TAGS: Europe
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