Shares of Transaero airlines rose in price twice on the news to discuss the rehabilitation of basic activities
On Wednesday, shareholders of airline “Transaero” have earned several hundred million rubles to the impending resumption of activities.
In the agenda of the meeting of the Board of Directors of “Transaero”, published on the morning of 2 November, there was a statement that the Council will discuss the program for the restoration of the main activities of the airline. The meeting will be held from 4 to 11 November by absentee ballot.
In addition to the recovery of core activities, the Board of Directors will also discuss the results of operations for the first nine months of 2016, reports TASS.
Later, in “Transaero” have declared that the company’s management together with consultants prepared the “effective and functional” plan launching on its base the new airline. “According to regulations, the company must submit a plan to the Board of Directors for approval. This will be done November 4th. However, given the situation, in any case, the final decision on the plan would make lenders”, – quotes “Interfax” the press service of the airline.
Information about the possible reopening of the carrier provoked a sharp increase in the cost of actions “Transaero”, which are traded on the Moscow exchange. Their value increased by 50%, the paper that Tuesday night was worth 3.83 ruble on Wednesday afternoon were sold at the maximum of 6.89 ruble.
In a few hours the capitalization of the company, deprived of the right to fly and are in the process of bankruptcy, soared to 1,025 billion, enriching shareholders 440 million roubles.
A few hours later the trade Union Chairman of “Transaero” Dmitry Saverin in an interview with RNS denied information about a possible resumption of the activities of the bankrupt airline.
“We have this information (about the resumption of the activities) since the summer. It is known that the details gradually, slowly being worked out. But concrete action, I still have not seen,” he said, stressing that at this stage it is “a rumor, nothing more”.
Experts say how “Transaero” can resume work, while it is not clear. Shares of the airline, most likely, after the jump back to the original marks, as it was already June 30. Then the General Director of airline-the bankrupt said that there are options for the establishment of new airlines, the backbone of which make up the key staff of “Transaero”.
We will remind, airline “Transaero”, who previously held second place in the airline industry of the Russian Federation, with the deterioration of the economic situation in the country and the currencies began to experience financial difficulties.
The company was unable to service the debt was in the verge of bankruptcy and was transferred under the operational management of “Aeroflot” in September last year. The flights, she stopped in October 2015 after failing to sell at a nominal price of 75% plus one share of “Aeroflot”. Too late to buy a controlling stake in the company wanted the co-owner of S7 airlines Vladislav Filev, however, he also refused the deal.
The decision on bankruptcy “Transaero” as the only way out of the situation was made October 1, 2015 after meeting with Prime Minister Dmitry Medvedev. Operating activity of the airline was terminated as of October 26, after the decision of Rosaviation.
In mid-December, the court accepted the claim of “savings” on bankruptcy “Transaero” and has imposed the airline’s monitoring procedure.
To claim “savings” joined “Alfa-Bank”, VTB and FNS. Among the other creditors of the airline appear “Absolut Bank”, “credit Bank of Moscow”, “Moscow industrial Bank”, Bank “international financial club” Bank BFA “MTS-Bank”, and a number of leasing companies. The total debt of “Transaero” in front of them has reached about 250 billion rubles.