Aeroflot buys Transaero stake for a rouble

Aeroflot buys Transaero: Aeroflot is to buy a 75% stake in struggling private airline Transaero for one rouble, it has been announced, in a takeover deal that will create one of the world’s largest air transport companies. Aeroflot also takes over Transaero’s €1.4bn debt, and says the company will be “completely overhauled and integrated” into the group.
Transaero was set up in 1990 in St Petersburg as a  chartered airline flying airplanes leased from Aeroflot  and has grown into carrier  operating scheduled and charter flights to 103 domestic and international destinations. Earlier this year, it said it was looking to purchase large modern airplanes such as the most recent model of Boeing’s 747 and Airbus’ new double-decker A380 for long-haul flights between Moscow and New York.
While passenger numbers grew by 2.7% in the first half of 2015, the collapse of the rouble has kept Russians from flying internationally and Transaero posted a net loss of $128m for the same period.

Source: euronews