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Transaero carrier becomes Gazprom, Rosneft minority stockholder

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MOSCOW, August 20 (RIA Novosti) - The air carrier Transaero has acquired 94,000 shares in the state-controlled energy giant Gazprom [RTS: GAZP] and 124,000 shares in the Rosneft oil company [RTS: ROSN], Russia's private carrier said Monday.

"We believe that given the current market situation, the purchases are attractive investment options," press secretary Sergei Bykhal said, without giving the price of the deals.

Gazprom's ordinary shares as of the end of Monday's session traded at $10.20 per share at the Russian Trading System (RTS) stock exchange, and at 261.4 rubles ($10.14) at the Moscow Interbank Currency Exchange (MICEX).

Rosneft ordinary shares traded at $8 and 205.80 rubles ($7.98) per share at the RTS and MICEX respectively.

Established in 1991, Transaero was Russia's first private airline. Its net profit, calculated to Russian Accounting Standards, was 304.8 million rubles ($11.9 million) last year, up 70% against 2005.

International destinations account for over 80% of passenger traffic and the airline's fleet comprises 27 aircraft: one Tu-214, six Boeing 747s, seven Boeing 767s, and thirteen 737s.

Bykhal also said the air company planned to set up a fleet of cargo aircraft by transforming its Boeing-747-200s, in use since 2005, into cargo versions to increase its freight traffic.

The company also plans to replace all its Boeing 747-200s with Boeing 747-400s by 2010. And this fall, Transaero will receive the first of six Boeing 747-300s it has ordered, Bykhal said.

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