Airline S7 banks are willing to give a part of shares for debt Transaero

MOSCOW, October 22. The airline “Siberia” (S7) invited the creditors to take a portion of the shares of Transaero airlines as the payment of the debt with the condition that the proportion of “Siberia” “Transaero” will not be less control. This was stated in interview to the newspaper “Kommersant” the co-owner of “Siberia” Vladislav Filev.

“We cannot afford to service the commercial debt, which is now 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. There is only one key condition: we are not ready for what was our share in “Transaero” will have less control,” said Filev.

Also co-owner of “Siberia” noted that, in agreeing to the purchase of “Transaero”, S7 there are “certain risks”, as “Transaero” a lot of debt. In this regard, S7 offered to take VTB and VEB fleet of “Transaero” to the planes began to bring them a positive cash flow.

“Of course, it is the state that now calls the tune. But we hope that our allies will become the biggest state-owned banks VTB and VEB,” said Filev.

Filev stressed that the deal cannot be broken because of S7. “We are in the process of extending the property. We are in the transaction, and any steps back,” said co-owner S7.

On 20 October it became known that General Director of S7 airlines Vladislav Filev has acquired not less than 51% of actions “Transaero” Alexander Pleshakov, who is the largest shareholder of the airline, which is in the verge of bankruptcy.