Aeroflot said on Friday the state would take up 50 billion roubles worth of its 80-billion rouble ($1 billion) new share offering, a vital cash injection for Russia's flagship airline that is reeling from the pandemic.
said on Friday the state would take up 50 billion roubles worth of its 80-billion rouble new share offering, a vital cash injection for Russia's flagship airline that is reeling from the pandemic.
Aeroflot is holding a secondary public offering in Moscow to be completed around Oct. 26 and has raised 39.1 billion roubles during bookbuilding, including 9.1 billion roubles from the Russian state, the airline said. Russia’s Direct Investment Fund said it and leading sovereign wealth funds from the Middle East had become anchor investors in the SPO.
Total passenger air traffic is forecast to fall 53% this year to 60 million people, the transport ministry said on Friday.Aeroflot reported in August an 85% fall in second-quarter revenue. Other major Russian carriers do not publish their results. Smartavia, a private airline, said around a quarter of its expenses were currently in foreign currency. Aeroflot, S7, Utair declined to comment.
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