Transaero could return to IPO idea in 2014-2015 - company chief
MOSCOW. Aug 8 (Interfax) - OJSC Transaero Airlines may return to the idea of conducting an IPO next year or the year after, company General Director Olga Pleshakova said in an interview with the business daily Kommersant.
"We have planned to place fourteen to seventeen percent of shares. In 2008, the program was suspended due to the situation on the external market, but in 2014 or 2015 we can return to this idea," Pleshakova said.
On the sidelines of the St. Petersburg international economic forum in 2012, Pleshakova told reporters that the airline was not planning an IPO as it was not experiencing problems with financing. "This subject was closed right from the start of the financial crisis. The company is not experiencing problems raising financing for its projects," she said at the time.
Transaero ended last year with net losses to International Financial Reporting Standards (IFRS) of 228 million rubles versus the 2.1 billion rubles in net profits it made in 2011. The company's sales revenues increased 35% to 91.8 billion rubles last year.
Transaero's main shareholders are Pleshakova and her husband Alexander, who together hold around 43%. The head of MAK, Tatyana Anodina, has 3%, and the company Transaero-Finances has 10.8%.
