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Aeroflot to increase authorised capital but to remain under state control

September 01, 2014, 18:30 UTC+3 MOSCOW
The government is planning to privatise Aeroflot in 2014 by selling about 10% its shares in the second or third quarters of the year
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© unova.ru

MOSCOW, September 01. /ITAR-TASS/. Russia’s major air carrier Aeroflot will issue additional shares in order to increase its authorised capital but the state will retain controlling interest in the company, according to a presidential decree signed on Monday.

Aeroflot’s principal shareholders are the federal government (51.17%), Aeroflot Finans (Aeroflot’s subsidiary owing about 5.6% of shares) and the Rostec state corporation (3.55%).

The government is planning to privatise Aeroflot in 2014 by selling about 10% its shares in the second or third quarters of the year. In late July, the government estimated 8-9% of Aeroflot shares at $200-$300 million.

Aeroflot, Russia’s leading airline, transported 20.9 million passengers in 2013. The Aeroflot Group, which includes the company’s subsidiaries, serviced 31.4 million passengers last year.

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