25 Oct 2017 19:17

Transport ministry gets VIM Airlines strategy from Aurora Investments chief Karlov

MOSCOW. Oct 25 (Interfax) - The Russian Transport Ministry has received from Boris Karlov, managing director of Aurora Investments, a plan of action for troubled airline VIM Airlines, the ministry told Interfax.

"A letter was received by the Transport Ministry and will be considered in the statutory manner," it said.

The Vedomosti newspaper has said the model proposed by Karlov envisages that VIM Airlines will continue to operate with nine aircraft, including three Boeing 757-200, owned by the airline. Scheduled flights will be operated to three main regions: the Far East, China and Central Asia.

Seat occupancy would rise from 69% to 75% by 2020, RASK would be 2.72 rubles, EBITDAR - 26% and revenue around 15 billion rubles. Average flight time per day will be between seven and 11 hours. The new airline would have round 800 full-time staff, a source close to its management told the paper.