AiRUnion, jointly run by the state and the Abramovich brothers (no relation to Chelsea FC owner Roman), has been hit by a cash crisis leading to flight delays across Russia since August 21. A government pledge to provide the company with fuel has failed to solve the company's financial problems, which include fuel bills, back tax claims, and a bankruptcy suit.
According to the Kommersant business daily the State Property Committee signed documents on transferring 51% of shares in KrasAir, 50.04% in Domodedovo Airlines and 46.5% in Samara to the Russian Technology Corporation, while the Transport Ministry approved documents on the transfer of stakes in Vladivostok-Avia, Dalavia and Sakhalin Air Routes.
The AiRUnion alliance companies are being transferred in line with the Russian president's decree, which has been amended twice to include new assets in the transfer package, Kommersant said.
The Russian Technology Corporation can now start the process of establishing a new air carrier, using the assets of the embattled AirUnion companies, Kommersant said, citing sources in the Russian air carrier market.
Add to blog
You may place this material on your blog by copying the link.
Sevastopol became Russia’s main naval base on the Black Sea, a role it was to play for many years. A total of 25,000 servicemen, not including civilian staff, are employed at the Black fleet’s facilities. When the families of these servicemen are taken into account, this figure grows to more than 100,000 people.