The Board of Directors of airline “Transaero” has supported the plan to rescue the company by creating a new carrier. The plan must be approved by the creditors, including Sberbank, said the General Director of the company Alexander Burdin in interview to the newspaper “Vedomosti”.
Against this background of the action “Transaero” at the opening of trading of the Moscow exchange on Monday increased by more than 39%.
“With the consent of all the lenders good assets “Transaero” are highlighted in the new company, which will start transport. The control should completely switch to the creditors. The brand, in my opinion, it is better to save,” said Burdin.
Assets, according to his statement, amount to 3-5 billion roubles, the company’s debt approved by the court, is 128 billion rubles.
In this case, said Burdin, CEO and majority owner of “Transaero” Alexander Pleshakov will not participate in the new project.
The initial investment in the new carrier is estimated at $ 20 million. These funds will be obtained as a result of the sale of the property “Transaero”. Then the authors plan want to look for investors for further development.
The new carrier, according to the plan, to commence flights from April 2017. The airline’s fleet, which will be established on the basis of “Transaero”, may consist of Boeing 737 New Generation and the Sukhoi Super Jet – 100, in the future MS-21. The company’s management is considering the possibility to take aircraft on lease.
The new carrier, according to the General Director “Transaero”, will be based at airports in the North and South of the country: in St. Petersburg and in Sochi and Krasnodar. The staff of the airline will be small – on average the work will involve 140 people. According to Burdin, these factors would reduce costs by about 30%.
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. The operations of the airline were 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.