Sibir Airlines stops disclosing information
MOSCOW. April 24 (Interfax) - OJSC Sibir Airlines is no longer required to disclose information in keeping with the Law on the Securities Market, the airline said in a statement.
Shareholders in the airline, which operates under the S7 brand, voted on January 23 to ask the Central Bank to exempt it from the obligation to disclose information.
The S7 Group of Companies won an auction to buy the Russian government's 25.5% stake in the airline at the end of May 2013, bidding 1.133 billion rubles. Alfa-Bank was the agent for the sale. The company increased its stake in Sibir from 71.59% to 97.09% on August 6, 2013. S7 Group is owned by Vladislav and Natalia Filev.
Net profit at Sibir increased 24.6% to 669.817 million rubles in 2013 under Russian accounting standards. Revenue was up 15.4% to 49.457 billion rubles.