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May 23, 2007
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New Regional Airline Emerging
A major new regional airline may arise in Russia. Region Avia intends to form a fleet of 50 foreign-made aircraft and operate them on routes of 1500 km. or less. With investments of about $65 million, the airline hopes to carry 3 million passengers a year by 2010-2012, that is, to be an industry leader. The main investor is the Norum company, which manages the EBRD venture capital fund. It will invest $50 million.
Region Avia general director Denis Pavshinsky said that a business plan is now being developed. The company will choose between European ATR 42 and ATR 72 craft, with seating for 42 and 72 passengers respectively, and Canadian Bombardier Q 200/300/400, with seating for 37-78 passengers.

Region Avia was registered in Moscow in 2005. Fifty-two percent of it is owned by Russian citizens, but the details of its ownership structure are not known. It now has a fleet of eight An-28 craft and makes regular flights between Ekaterinburg and Magnitogorsk, Ufa and Nyagan in partnership with Aviaprad.

Pavshinsky, who is the former head of the Central Federal District Investment Agency and former deputy governor of Tver Region, explained to Kommersant that the market for internal flights in Russia is now 5 million passengers a year and it is growing at 10-15 percent per year. Mainly inefficient, older Russian-made craft are used on those routes.
www.kommersant.com

All the Article in Russian as of May 23, 2007

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