Putin likely to put Aeroflot up for sale

Russian leader lines up sell-offs to help budget
Aeroflot and Russian Railways are among a number of large-scale state-owned Russian companies being lined up for privatisation as the Kremlin considers new ways to replace declining oil revenues.
The heads of Aeroflot, Russian Railways and five other major companies, including diamond miner Alrosa and oil giant Rosneft were summoned to the Kremlin yesterday for a meeting with President Vladimir Putin.
It is the first comprehensive privatisation push in years, coming as the fall in crude prices keeps Russia mired in a second year of recession, ripping a gaping hole in its budget.
The cabinet under Prime Minister Dmitry Medvedev is amending its 2016 budget, which had previously been planned on the assumption of high oil prices.
However, Putin stressed that “there shall be no sale of shares for a pittance or at knockdown prices”.
Financial Times


Check Also

Aeroflot, Rossiya, airlines, Russia, passengers, 2017, outbound, travel, growth, tourism, traffic, ASK, RPK

Aeroflot Group sees 15.4% more passengers

The result reflects Russia’s resurgence in the world of travel and tourism.

Ryanair, cancel, list, flights, CAA, warning, legal, law, passengers, rights

New Ryanair fee – only for Israel

Airline angers passengers with sudden charge.

Welcome to Ras Al Khaimah – winter sun and adventure for the whole family

ADVERTORIAL: Ras Al Khaimah, the northern-most emirate of the UAE, offers its visitors a truly authentic Arabian experience; from its golden beaches, lush mangroves and terracotta deserts, to the towering Hajar Mountains bordering Oman.

Wow Air, Iceland, low-cost, LA, California, transatlatic, long-haul, A330

WOW air sees 69% passenger growth

Low-cost upstart’s fleet to grow to 24 aircraft in 2018

Lufthansa beats Ryanair as Europe’s top airline

Lufthansa Group as a whole carried 130 million passengers in 2017

Bergen two new routes, Billund one

Air France and Wizz Air announce fresh expansions