LIMA (Sputnik) — On September 28, Vitaly Vantsev, a shareholder of Transaero, which has approximately $4 billion debt, that there were two options for the airline company. The first one would be handing 75 percent of the company’s shares to Russia’s flagship airline Aeroflot and then restructuring. The second option, according to Vantsev, would be bankruptcy, which "is the worst option for all of the participants in the process."
The Central Bank stated earlier that it was considering granting banks the right to create reserves for Transaero loans under the schemes approved by the Bank of Russia.
"This is not going to be some individual solution for each bank to create reserves, but perhaps a plan that will allow this situation to pass more smoothly," the Central Bank head added.
Russia’s flagship commercial airline Aeroflot announced its intention to acquire a 75 percent stake in Transaero in early September. However, the talks on a takeover of the airline deadlocked. Aeroflot representatives took a tough stance at the talks, saying that the banks should have better calculated risks while signing lending contracts with an extremely risky strategy.
On October 1, Aeroflot refused to buy Transaero after it filed for bankruptcy.