01:18 GMT +3 hours24 November 2014
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Belarus Denies Plans for Airline Holding with Russia

World
(updated 18:28 28.10.2014)
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Belarus has no plans to create an airline holding company with Russia, Belarusian Transport Minister Ivan Shcherbo said on Thursday.

Belarus has no plans to create an airline holding company with Russia, Belarusian Transport Minister Ivan Shcherbo said on Thursday.

“There are proposals but we are not considering them. We are working to consolidate Belavia as a national air carrier,” he said, responding to a reporter’s question on whether Belavia could form a holding company with a Russian airline.

Belarus is planning to expand Belavia’s aircraft fleet, he said. It will buy two new Embraer planes from Brazil, at a price of up to $50 million each and the Transportation Ministry is looking for a way to buy another two planes.

The minister also said the Belavia national carrier will be incorporated in 2013 while other transport firms are to be reorganized as joint-stock companies within the next five years.