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02 Sep 2015

BY Rob Gill

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TRFBLI

Aeroflot agrees deal to take over Transaero

Aeroflot is taking over fellow Russian carrier Transaero in a deal worth just 1p.

Transaero A330

State-owned Aeroflot has purchased a 75% stake in Transaero, which operates flights between Heathrow and Moscow, for the nominal price of one rouble.

As part of the deal, Transaero will be “overhauled and integrated” into a new enlarged Aeroflot group.

 

Transaero has been struggling financially and its €1.4 billion debt will also be taken over by Aeroflot.

 

The airline has blamed the fall in the value of the rouble for its financial woes, which has led to lower sales on its international routes and an increase in the cost of loan payments.

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