S7 co-owner agrees to buy 51% of Transaero

Transaero Airlines

S7 Airlines co-owner Vladislav Filyov has agreed to buy control of Russia’s debt-ridden carrier Transaero Airlines, according to media reports.

Filyov has reportedly signed an agreement today to buy at least 51 per cent of Transaero from Alexander Pleshakov. S7’s Siberia Airlines is Russia’s third-largest carrier.

Earlier this month Aeroflot pulled the plug on its acquisition of the struggling fellow Russian airline after it called off the deal after Transaero failed to come up with an offer for Aeroflot’s proposed purchase of a 75 per cent stake before the tender deadline.

Last month, Aeroflot said it would buy a 75 per cent stake in Transaero, whose net debt is reportedly 107 billion roubles ($1.63 billion).

Russia’s largest bank, Sberbank PJSC, filed a bankruptcy suit against Transaero on Monday, the news service RIA Novosti reports.

Transaero was set to end it operations by 15 December.