Malaysian government in talks to buy bankrupt Transaero

A state-owned  Malaysian investment fund is in talks with the Russian Investment Agency (RIA) about the possibility of buying Russia’s bankrupt  Transaero  airline, RIA President Yury Spiridonov confirmed  this week. The agency has  held two meetings with  Malaysia’s Ministry of Transport where discussions have centred around the fund acquiring 50% of the airline with the RIA buying the other half in return for restructuring its debt. If the fund cannot turn Transaero around,  then it could buy some of the airline’s fleet and  set up a new airline.
Transaero’s largest creditors, including Sberbank, Vnesheconombank and VTB are said to support the proposals. “Malaysian investors have experience of working with debts – they have already restructured  Malaysia Airlines which was $6bn in debt,” Spiridonov said.

Source: 1prime