newstodate.aero
Sep 18, 2009 (newstodate): Failing in all of its efforts so far to win shares in European airlines, Aeroflot will now leave the EU market's airlines alone and focus on future acquisitions or mergers with Russian carriers.
Facing the formation of a new airline conglomerate Rosavia, set up to compete head-on with Aeroflot, the carrier will renew its efforts to win an ownership position in S7 Siberian Airlines in order to increase its critical mass, sources say.
Over the last few years Aeroflot has participated in several tenders for stakes in EU airline including Alitalia, Austrian Airlines, CSA Czech Airlines and JAT - but never reached its target.
So far only the now-defunct Russian airline association AiRUnion, headed by KrasAir, has succeeded in taking over a stake in an EU airline, Hungary's Malev, but this stake was later taken over by a Russian investment bank following the collapse of AiRUnion.
Facing the formation of a new airline conglomerate Rosavia, set up to compete head-on with Aeroflot, the carrier will renew its efforts to win an ownership position in S7 Siberian Airlines in order to increase its critical mass, sources say.
Over the last few years Aeroflot has participated in several tenders for stakes in EU airline including Alitalia, Austrian Airlines, CSA Czech Airlines and JAT - but never reached its target.
So far only the now-defunct Russian airline association AiRUnion, headed by KrasAir, has succeeded in taking over a stake in an EU airline, Hungary's Malev, but this stake was later taken over by a Russian investment bank following the collapse of AiRUnion.