The Russian Technology Corporation will hold the controlling stake in the new airline, which would unite Atlant-Soyuz, Rossiya Russian Airlines, Kavminvodyavia, Vladivostok Avia and Orenburg and Saratov airlines, the corporation and the two regional authorities said in a press release.
Aeroflot, Russia's largest air carrier, said Thursday it does not yet consider the new airline its clear competitor. "They first have to fix themselves on the market and win passengers' trust," a spokeswoman said.
AiRUnion, jointly run by the state and Abramovich brothers, has been hit by a cash crisis leading to flight delays across Russia since August 21. A government pledge to provide the company with fuel has failed to solve the company's financial problems, which include fuel bills, back tax claims and a bankruptcy suit.
Russian Transportation Minister Igor Levitin said Thursday it would take about a week to resolve AiRUnion's flight backlog.
The crisis has affected passengers across Russia with around 600 people stranded at Siberian airports on Tuesday as KrasAir's fuel arrears hit $1 billion.
Levitin met with Prime Minister Vladimir Putin to report on measures being taken to ensure passengers stranded at airports return home safely.
