Aeroflot Russian Airlines (Moscow) will not proceed with its acquisition of 75 percent of the stock of rival and struggling Transaero Airlines (Moscow) according to Reuters. Transaero’s shareholders failed to meet the deadline for an acquisition plan.
Meanwhile the Russian government has given its approval for Transaero to file for bankruptcy according to rt.com.
The airline has acknowledged on social media that it is “rehabilitating its activities” and would have more details later today.
According to Bloomberg the airline’s creditors have not yet agreed on a restructuring plan. The government has banned the airline from selling any further tickets due to its large debt.
Aeroflot will reportedly stopped buying fuel for Transaero aircraft which affectively grounds the airline.
Update: On October 2, 2015 Transaero Airlines issued this statement:
Upon the decision of the Government of the Russian Federation on external management and sanation of Transaero Airlines, the carrier interacts with the partners to ensure the carriage of the passengers holding the tickets of the airline.
The airline has suspended ticket sales.
The transportation of passengers-holders of the airline’s tickets on domestic and international routes will be provided until December 15, 2015.
Passengers-holders of tickets for flights after 00.00 of December 15, 2015, will be able to get refund of the full ticket price.
In summary, Transaero Airlines will cease operations at midnight on December 15, 2015.
Copyright Photo: Ton Jochems/AirlinersGallery.com. Antalya, Turkey is a favorite destination for the carrier and its uses Boeing 747-400s to bring large loads of Russian tourists to the popular beach resort. Flights are now being delayed from leaving Antalya (AYT). Boeing 747-446 EI-XLG (msn 30111) taxies at AYT.