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Provider: Reuters Investment Profile
Provider: Wright Reports
Provider: Investcafe

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Aeroflot OAO Plans to Set up Low-Cost Airline-Interfax

Friday, 26 Jul 2013 02:10am EDT 

Interfax reported that Aeroflot OAO (Aeroflot) will set up a low-cost airline that will be a wholly owned subsidiary, the Company said in a statement, citing a decision made by its Board of Directors. Based on the demand for such a model of air services in Russia, the Board of Directors deemed it advisable to create a budget airline with 100% equity participation by Aeroflot, the Company said. Aeroflot said that the core product of the low-cost airline would be completely different from what Aeroflot itself offers. Mr. Savelyev said earlier that the future airline would operate about 15 aircraft. The creation of the company will take six months after the adoption of the necessary amendments to the Air Code and Russian aviation rules. 

Company Quote

-0.32 -0.94%
26 Dec 2014