The transfer of stocks paves the way to Rostekhnologii for creating a new company.
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Rostekhnologii Sanctioned to Take Off
Russia’s Federal Property Management Agency (Rosimushchestvo) signed the documents to transfer to Rostekhnologii the government’s stakes in airlines of AiRUnion, while the Transport Ministry agreed on the transfer of Vladivostok Avia, Dalavia and Sakhalin Aviatrassy to it. So, Rostekhnologii has all assets to set to creating another airlines in Russia.
According to a source with the aviation market, Rosimushchestvo has transferred to the state-run Rostekhnologii the government’s stakes in Krasair (51 percent), Domodedovo Airlines (DAL; 50.04 percent) and Samara (46.5 percent). A source close to Rostekhnologii confirmed the transfer of the documents for the change of owner of the government’s stakes.
Rostekhnologii acquires the stakes in AiRUnion airlines under the presidential ruling No. 853 of May 26. Later on, the authorities extended the list by Dalavia, Vladivostok Avia and Sakhalin Aviatrassy.
AiRUnion emerged in 2005 as an informal association of five airlines – the state-run Krasair and DAL and private Samara, Omskavia and Sibaviatrans. Having posted the passenger traffic of above 3 million in 2007, the alliance joined the league of Russia’s five biggest airlines.
In August, however, the airports declined to service jets of AiRUnion until the latter settles its arrears ($800 million as of early August under Rostekhnologii estimate). Then, Atlant-Soyuz undertook to carry the AiRUnion passengers, while Rostekhnologii announced creation of another air giant, the one based on the assets of Atlant-Soyuz and the state-run stakes in GTK Rossia, Orenburg Airlines, Kavminvodyavia, Saratov Airlines, Vladivostok Avia, Dalavia and Sakhalin Aviatrassy to be transferred to Rostekhnologii. The preliminary name of a new blockbuster is Russia’s Airlines.
www.kommersant.com
All the Article in Russian as of Oct. 09, 2008
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