Shareholder: the transaction on purchase of “Transaero” creates risks for business S7

Shareholder: the transaction on purchase of “Transaero” creates risks for business S7


Shareholder of S7 group, Vladislav Filev noted that the debts of the carrier create certain business risks S7 have signed the agreement to purchase not less than 51% of actions “Transaero”.

MOSCOW, 22 Oct. The purchase of the airline “Transaero” creates risks for business S7, since the pre-bankrupt “Transaero” a lot of debts, said the shareholder of S7 group, Vladislav Filev.

Transaero airlines has been unable to service debts, which form together with the leasing obligations of about 250 billion rubles. Air operator certificate “Transaero” will be cancelled from October 26. Passengers transported by the airlines of Aeroflot group and others, including S7. On Tuesday evening it became known that the group shareholder of S7 airlines Filev has signed an agreement to purchase not less than 51% of actions “Transaero”.

“We do have certain risks. Transaero’s a lot of debts,” said Filev in an interview with the newspaper “Kommersant”.

“We offered to take in state banks VTB and VEB fleet of “Transaero” and promise that these aircraft will bring them positive cash flow,” said Filev also. However, he said, S7 is not able to service commercial debt, which now is at “Transaero”. “But we are ready to give part of its shares in payment of a debt of commercial banks to earn profit for them so the shares were worth real money,” said Filev.

He also said that in the transaction there is only one key condition: “We are not ready for what was our share in “Transaero” less control”.

Filev also stressed that if “Transaero” will revoke a certificate, the aircraft will follow the approved path — the “group “Aeroflot” will become a monopolist, on the international regular lines from Moscow is more than 80% of the market, the domestic more than 60%”.

To the question, where did these calculations, because the officials and “Aeroflot” they were other — not more than 50% of the market, Filev explained that we are talking about directions, not about the number of passengers from Moscow. “Will remain only four international routes from Moscow, except for CIS, where there is competition. In General, the market is more than 60% of passengers on international flights will transport “Aeroflot”, — he said.