8 Apr 2010 13:30

Aeroflot expects to sign Rostechnology aviation-assets memorandum by end-April

MOSCOW. April 8 (Interfax) - Russian flagship airlines Aeroflot - Russian Airlines expects that before April ends it will have signed a memorandum concerning the joining of Rostechnology aviation assets to the Aeroflot company group, Aeroflot General Director Vitaly Savelyev told reporters in Moscow on Thursday.

"We agreed, everyone has adjusted and we are awaiting the intra-corporate procedures," Savelyev said.

Aeroflot may set up a low-cost airlines around one of the Rostechnology assets, he said.

The assets in question will be kept as stock companies and will fill different niches, and "plans call for the creation of a charter company, while Aeroflot remains in the premium class, and a discounter might be set up," he said.

As to the airline GTK Rossiya, Savelyev said after it is privatized St. Petersburg will have 25% of the company's shares and Aeroflot 75%. A second hub might be set up at Pulkovo Airport in St. Petersburg, he added.