newstodate.aero
Dec 21, 2006 (newstodate): EBRD has acquired an equity stake in Sky Express, Russia's first low-cost operator soon to be launched.
The Banks initial investment in Sky Express is USD10 million, envisaged to rise in several stages up to USD20 million.
The carrier's other investor and shareholder is Boris Abramovich, director-general of Krasnoyarsk Airlines, Russia's third largest carrier.
Sky Express plans to build up an extensive domestic network comprising Russia's main cities, but it will not introduce international flights.
By the end of 2007 Sky Express aims to secure a market share of about seven percent in Russia and hopes to boost this to 25 percent over the longer term, the company says.
The Banks initial investment in Sky Express is USD10 million, envisaged to rise in several stages up to USD20 million.
The carrier's other investor and shareholder is Boris Abramovich, director-general of Krasnoyarsk Airlines, Russia's third largest carrier.
Sky Express plans to build up an extensive domestic network comprising Russia's main cities, but it will not introduce international flights.
By the end of 2007 Sky Express aims to secure a market share of about seven percent in Russia and hopes to boost this to 25 percent over the longer term, the company says.