Aeroflot Group to divest eastern carrier Aurora
Aeroflot Group is to withdraw from the ownership of eastern Russian carrier Aurora Airlines, by selling its majority stake in the company.
Aurora Airlines serves a route network from Khabarovsk, Yuzhno-Sakhalinsk and Vladivostok.
It operates a fleet of 10 Airbus A319s as well as about a dozen turboprops, mainly Bombardier Dash 8 models.
Aeroflot Group holds 51% of the carrier but it states that, following a board meeting on 17 December, it has “decided to terminate” its participation.
It will sell its 51% share in the company to the Sakhalin Region Development Corporation. The corporation says its aim is to ensure a high level of socio-economic development and growth for the region through investment in priority activities.
Aeroflot Group indicates that it is selling the shareholding at a “total price” of Rb1 ($0.01), a token sum for the transaction which involves nearly 396,400 shares.
Aurora’s passenger numbers for the nine months to 30 September were down by over 50%, with international figures hit particularly hard, down by almost 80%.
