Jet Alliance - the new Austrian partner of Aeroflot

Release Date: 2009-11-26

Source: Aviaport.ru

Aeroflot’s tender committee has chosen Jet Alliance (Austria) as the possible buyer of the control share of its subsidiary, Aeroflot-Plus specialized in business charters

Jet Alliance is to pay USD 2 mln for 51% of Aeroflot-Plus*. The new owner will also have to deal with the company’s debt. According to RBC Daily, close to the company’s operations in Russia, the carrier is expected to operate domestically 30 aircraft registered in Russia. For the deal to comply with the Russian law, Jet Alliance will own only 49% of shares directly; the other 2% will be owned by a specially created Russian legal entity. The project will be developed on the basis of a business terminal in Sheremetyevo, the hub of Aeroflot-Plus.

*Aeroflot-Plus is a 100% subsidiary of Aeroflot specialized in business aviation. It operates three Tu-134 and two Yak-42. The accumulated debt is 85 mln RUR. Aeroflot-Plus is the former employer of Sergey Koltovich, a Jet Alliance representative, who was to prepare the initial anti-crisis business plan for Aeroflot-Plus. Mr Koltovich refused to comment on the tender’s results before official notifications.

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NORMAL