MOSCOW, July 13. /TASS/. The Russian Finance Ministry and the Russian Federal Property Management Agency presented a joint application to buy shares in the flagship air carrier Aeroflot in the amount of 52.5 bln rubles ($890.4 mln), the company said.

The share of the Russian Federation in the authorized capital of the airline increased as a result from 57.34% to 73.77%, Aeroflot said.

"Funds raised from the government will help to fully cover the group needs within the framework of restructuring debts under letters of credit," the company noted.

The case in point is the purchase of more than 1.5 bln new ordinary shares of Aeroflot at the offered price of 34.29 rubles ($0.6) per share.

"The process of exercising the preemptive right continues at the moment; its progress, completion of the issue and the final amount of raised funds will be communicated further," the Aeroflot’s press service said.