Shares of Transaero airlines has fallen by almost 20%, continuing a correction after a rally

Moscow. October 23. Shares of Transaero airlines on Friday morning continued the downward correction that started yesterday after a wild rally on Wednesday on news that the owner of PJSC “Airline “Siberia” (enters into group of S7 Airlines) Vladislav Filev has signed an agreement to purchase Alexander Pleshakov “not less than 51 percent” of shares of “Transaero”.

10:24 of action “Transaero” on the Moscow stock exchange fell to 12,44 ruble (-17,1%), and in three minutes reached 11,48 ruble (-23,5%). On Thursday shares of Transaero airlines fell by 23.1% (to $ 15). Sunday paper has soared almost threefold from 6.8 to 19.5 rubles.

As reported in an interview to “Kommersant” the co-owner of airline “Siberia” (working under the brand S7) Vladislav Filev, the shareholders of “Siberia” are ready to give part of its shares in payment of commercial debt “Transaero”.

“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” less control” – he said.

In an interview Filev did not explain the purpose of the acquisition of control in the company “Transaero”, in which the certificate will be cancelled on October 26, after the inspection of Federal air transport Agency. Filev also stressed that “Siberia” there are certain risks.

Meanwhile, growing shares of “Aeroflot” (+0.5% to 49,46 ruble).

Aeroflot and control the airline “Russia” has received provisional admissions on routes “Transaero” in some of the largest cities in the world, follows from the materials published on the website of the Federal air transport Agency (Rosaviatsia).

In particular, the very parent company of the group will carry out flights from Moscow to new York, London, Beijing, Rome, tel Aviv, “Russia” – in Hong Kong, Vienna, Bangkok, Barcelona, Milan, Frankfurt, Houston. Tolerances issued for the period from 26 October 2015 to 30 October 2016 “with the possibility of prolongation”.