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Russia's Aeroflot sees no reason to buy minor stakes in foreign companies — CEO

In 2016, Aeroflot plans to carry 30 million people, while the Aeroflot group plans to carry 40 million people

© Marina Lystseva/TASS

MOSCOW, April 26. /TASS/. Russia’s flagship carrier Aeroflot sees no reason to buy shares in foreign companies, because European laws do not allow the Russian carrier to acquire a controlling stake, the company’s general director Vitaly Savelyev said in an interview with Rossiya 24 TV channel.

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"So far we do not see any sense in it, because European laws do not allow us to buy a controlling stake, that means that we cannot become a parent company ... We cannot consolidate certain indicators, so this is not interesting for us," he said.

Saveliev stressed that the current situation means that Aeroflot will be a portfolio investor.

He also said that in 2016, Aeroflot plans to carry 30 million people, while the Aeroflot group plans to carry 40 million people.

"The only deterrent we have is that we do not want to break exceed the market share of more than 50%, because everyone worries - there are other carriers. We are for competition. We do not want to stay alone on the market.." he said.

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