Aeroflot, Russian Technologies intend aircraft-repair JV
MOSCOW. Feb 2 (Interfax) - OJSC Aeroflot - Russian Airlines and state-run Russian Technologies are planning to set up a joint venture for the repair and servicing of airliners as equal partners, a source on the airlines' board of directors said on the sidelines of the Russia Forum 2012, organized by Sberbank and Troika Dialog .
"Today the Aeroflot board of directors will consider a conception for the JV's creation, stakes in which at the initial stage will be 50-50," this source said.
If the board approves the conception, a business plan will be signed, he said. And after that plan is drawn up and the enterprise is created, a foreign partner will be brought on board.
Aeroflot's deputy general director for finances and investments, Shamil Kurmashov, said not long ago that the airlines would this year be setting up a joint venture for the technical servicing and repair of airliners that might in the future capture a 50% share of Russia's market and those in the Commonwealth of Independent States.