Bankruptcy proceedings for Russian Transaero to start
02.10.2015,
11:09
Russian Prime Minister Dmitry Medvedev has given the green light to begin bankruptcy proceedings for Transaero airlines, according to Russian news agencies. Negotiations on a takeover of Russia's second-biggest carrier by Aeroflot have been deadlocked, Gazeta.ru reported.
YEREVAN, October 2. / ARKA /. Russian Prime Minister Dmitry Medvedev has given the green light to begin bankruptcy proceedings for Transaero airlines, according to Russian news agencies. Negotiations on a takeover of Russia's second-biggest carrier by Aeroflot have been deadlocked, Gazeta.ru reported.
The technical details of the bankruptcy procedure are currently being worked out. Russia's federal aviation service has told Transaero to stop all ticket sales, TASS reported.
According to Interfax news agency, all the negotiators have acknowledged bankruptcy as the only possible way out, including economic development minister Alexei Ulyukaev.
At the beginning of September, Aeroflot said it intended to acquire a 75 percent stake in Transaero, which has about a $4 billion debt. Aeroflot's main shareholder is the Russian state, which owns 51 percent stake in the carrier. -0-
The technical details of the bankruptcy procedure are currently being worked out. Russia's federal aviation service has told Transaero to stop all ticket sales, TASS reported.
According to Interfax news agency, all the negotiators have acknowledged bankruptcy as the only possible way out, including economic development minister Alexei Ulyukaev.
At the beginning of September, Aeroflot said it intended to acquire a 75 percent stake in Transaero, which has about a $4 billion debt. Aeroflot's main shareholder is the Russian state, which owns 51 percent stake in the carrier. -0-
