FESCO could acquire airline for cargo transportation - board chairman

MOSCOW. March 21 (Interfax) - FESCO Transportation Group, whose parent company is PJSC Far East Shipping Company (FESCO), is considering acquiring an airline for its own fleet in order to transport cargo, FESCO chairman of the board of directors Andrei Severilov said during a briefing at the TransRussia 2024 exhibition.

"We are considering the possibility of acquiring an existing airline," Severilov said.

FESCO remains interested in acquiring its own aircraft fleet, and is considering the purchase of two aircraft, Severilov said last October. However, acquiring the aircraft would only be possible by accounting for the existing international restrictions on Russia's aviation fleet, Severilov said at the briefing.

"We are interested, and we have cargo. We are continuing to expand our aviation segment, which is growing, and we would like to launch transportation using our own aircraft," Severilov said.