MOSCOW, October 21. /TASS/. Shares of Transaero airline sped up their rise to 76.5% to 12 rubles per share in the course of trading on the Moscow Exchange on Wednesday.
Earlier on Wednesday, the shares of the airline rose by 39.85% to 9.51 rubles per share.
At the same time Aeroflot shares decreased by 5.8% to 46.45 rubles per share as of 11.05 a.m. Moscow time.
Transaero shares grow amid reports that S7 Airlines General Director Vladislav Filev on Tuesday, October 20, bought "at least 51%" of the Transaero shares from Alexander Pleshakov, the largest shareholder of the airline. Filev said that Transaero shareholders have a plan to normalize relations with airline creditors, but did not disclose further details. He also noted that the new shareholders by all means will try to avoid bankruptcy of the airline.
Later, Deputy Economic Development Minister Evgeny Yelin said that the airline has a real chance of survival, and S7 Airlines takes full responsibility. According to him, happens exactly what the Economic Development Ministry hoped for expected — one of the most efficient companies merges with less effective one and the market stabilizes.
Transaero will continue its activities after S7 co-owner purchased its shares, course in aviation industry told TASS.