Transaero Airlines (Moscow) denied media reports before Christmas that it might have been forced to suspend operations due to the decline in the Russian ruble. Instead the second largest Russian carrier asked the government and state banks for financial help. The airline will now receive a 9 billion ruble ($164 million) credit guarantee according to Travel Weekly. The airline, as part of the deal, promised to freeze ticket prices and will increase operations.
The airline issued this statement:
Transaero Airlines expresses its utmost gratitude to the Government of the Russian Federation, the Ministry of Finance of the Russian Federation, Transport Ministry of the Russian Federation, the Federal Air Transport Agency and State Corporation “Bank for Development and Foreign Economic Affairs (Vnesheconombank)” for the provided support.
Transaero Airlines expresses its special gratitude to JSC VTB Bank.
The Government has made a decision to support the backbone company providing transport services in the dramatically changing macroeconomic conditions, while the Bank assigns the necessary credit funds.
Transaero, for its part, entirely supports the price freeze principle, and it will not increase airfares on its domestic services in 2015. In addition to this, it will reduce airfares by 5-7% on the domestic routes, which are exclusively served by Transaero Airlines.
In November 2014, taking into consideration the recommendations developed for the airline by the multinational management consulting firm McKinsey & Company, Transaero started to implement a comprehensive set of measures aimed at enhancing its operational efficiency in the changing business environment. It is expected that the key measures will be implemented within three-six months.
In 2015, Transaero Airlines will continue to focus on enhancing the reliability and accessibility of air transport for the Russian residents. The particular attention will be given to the flights to the Southern resorts of the Russian Federation (Transaero will increase its passenger capacity on those routes), as well as to air services to the Russia’s Far East from Moscow and St Petersburg. The airline will continue to strengthen its cooperation with its long-term partners – the largest Russian travel operators, first of all, on the tourism programmes to the destinations in the South of Russia.
Transaero Airlines expresses its sincere gratitude to all its passengers, as well as partners, banks, leasing companies, airports, fuel companies and suppliers.
Transaero Airlines has been developing, operating and, inter alia, overcoming the challenging times along with its country for 23 years. This term provides the grounds to be certain that Transaero will successfully overcome the difficulties of this stage caused by external factors.
Copyright Photo: Boeing 737-7Q8 EI-ETX (msn 29359) taxies to the runway at London (Heathrow).
Transaero aircraft slide show: