20 Apr 2022 17:56

Russian gov't could allocate around 107 bln rubles from NWF for recapitalization of Aeroflot - source

MOSCOW. April 20 (Interfax) - The Russian government could allocate about 107 billion rubles from the National Welfare Fund (NWF) for recapitalization of Aeroflot. These parameters are being considered in the preparation of the next government package of measures to ensure development of the Russian economy amid sanctions, a source familiar with the course of discussions told Interfax.

Plans call for additional shares to be placed by public subscription and the stake of the government in Aeroflot (currently 57.34%) should not decrease as a result of the secondary offering, the source said.

A further 57 billion rubles from the NWF is proposed for the government to buy out stakes of other airlines, except for those in the Aeroflot Group (which also includes Pobeda and Rossiya Airlines). They will be able to use the proceeds to repay debts.