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Aeroflot to start financing low cost air carrier project in 2013

August 31, 2013, 2:01 UTC+3
Aeroflot has refrained from disclosing any financial or other details of the project
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Photo ITAR-TASS/Yury Smityuk

Photo ITAR-TASS/Yury Smityuk

MOSCOW, August 31 (Itar-Tass) - The board of directors of Russia’s airlines Aeroflot has made a decision to create an affiliated low cost carrier and to start financing the project in the near future, as follows from the company’s official news release.

The money will begin to be disbursed in 2013 and more investments into the project will be reserved in the 2014 budget.

Aeroflot has refrained from disclosing any financial or other details of the project.

According to earlier unofficial reports, Aeroflot within the next two years would invest about 100 million dollars in a future low cost air carrier, scheduled to go in business in March 2014. Over the next five years the newly-founded air carrier is to build up its fleet of aircraft to an estimated 40 to 50 liners.

 

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