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AirUnion to create a major airline company in Russia · 2007-04-07 17:32
A consolidated air carrier which would merge several aviation assets is soon to be set up in Russia, the deputy economic development minister announced at the government's session on Friday.
According to Kommersant, the Cabinet is expected to adopt amendments sanctioning the deal in the nearest future.
The company under the name of AirUnion is to merge state-owned and private assets to create a major airline company which will be able to compete with flagship air carrier Aeroflot.
However, private shareholders will retain a controlling stake in the firm, says Deputy Economic Development and Trade Minister Kirill Androsov.
The AirUnion alliance currently unites KrasAir, Domodedovo Airlines, Omskavia, Samara and Sibaviatrans. The nonprofit alliance was set up following KrasAir in early 2005.
Fleet of the five partner airlines includes 12 foreign-made aircrafts. The Russian Federal Property Management agency holds 51 percent in KrasAir.
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