newstodate.aero
Mar 31, 2006 (newstodate): Aeroflot is mulling plans to buy out five rival airlines in a move to spur the on-going consolidation of Russia's unprofitable airline industry.
The carrier has proposed that the state pay for the newly issued shares in the company with its stakes in Pulkovo Airlines, Rossiya, Dalavia, KrasAir, and Vladivostokavia.
Pulkovo Airlines, Rossiya and Dalavia are state-owned, while KrasAir and Vladivostokavia are 51 percent owned by the government.
Aeroflot is reportedly also chasing a majority stake held by the government in Russia's second-largest airline, Siberia Airlines.
Airline consolidation in Russia is expected to reduce the number of airlines from today's 200 to around 25 within only few years.
The drive for consolidation is already taking shape with the formation of the AIRUnion airline alliance now comprising the Russian airlines Omskavia, KrasAir, Sibaviatrans, Samara Airlines, Domodedovo Airlines, and Sakhalinskiye AviaTrassy.
Also growing is another alliance led by VIM-Avia and comprising Russian Sky, Tesis and Chernomor Avia as well as Kyrgyz Air reportedly being taken over by VIM-Avia.
The carrier has proposed that the state pay for the newly issued shares in the company with its stakes in Pulkovo Airlines, Rossiya, Dalavia, KrasAir, and Vladivostokavia.
Pulkovo Airlines, Rossiya and Dalavia are state-owned, while KrasAir and Vladivostokavia are 51 percent owned by the government.
Aeroflot is reportedly also chasing a majority stake held by the government in Russia's second-largest airline, Siberia Airlines.
Airline consolidation in Russia is expected to reduce the number of airlines from today's 200 to around 25 within only few years.
The drive for consolidation is already taking shape with the formation of the AIRUnion airline alliance now comprising the Russian airlines Omskavia, KrasAir, Sibaviatrans, Samara Airlines, Domodedovo Airlines, and Sakhalinskiye AviaTrassy.
Also growing is another alliance led by VIM-Avia and comprising Russian Sky, Tesis and Chernomor Avia as well as Kyrgyz Air reportedly being taken over by VIM-Avia.