19 Nov 2010 18:03

FAS greenlights Surgutneftegas buying 75.64% of UTair shares

MOSCOW. Nov 19 (Interfax) - Russia's Federal Antimonopoly Service (FAS) has approved non-governmental pension fund Surgutneftegas's application for permission to acquire 75.64% of the stock in OJSC UTair Airlines (RTS-TMAT), the FAS said.

It was reported previously that LLC Central Surgut Depository became in 2004 the nominal holder of 75.64% of the UTair stock. Prior to that, the stock belonged to the Surgut and Khanty-Mansiisk Autonomous District authorities, who sold the shares to an investor

That investor was unofficially reported to be associated with Surgutneftegas, but the company never officially confirmed those reports.

UTair flew 33.8% more passengers in Q1-Q3 this year, 3.4 million fliers in all. The company has more than 150 fixed-wing aircraft and over 200 helicopters.