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Company News

01 October 2015

Aeroflot will not extend tender offer to acquire Transaero stake

MOSCOW, 1 OCTOBER 2015 — The Board of Directors of PJSC Aeroflot (Moscow Exchange ticker: AFLT) has been informed that Transaero shareholders, who previously submitted a tender offer to Aeroflot, have not submitted a proposal for the purchase by Aeroflot of a stake of 75% plus one share in Transaero within the deadline stipulated in the tender offer. 

The Board of Directors also reviewed a progress report on measures undertaken to restructure Transaero during September 2015.

While disruptions in the civil aviation market and social tensions among Transaero employees have been avoided, the Board of Directors noted this and decided not to extend the terms of the tender offer from Transaero shareholders that the Board of Directors considered on 3 September.

The Board therefore directed Aeroflot’s management to ensure that Transaero fulfils its obligations to passengers, and also to minimise any negative social consequences for Transaero staff.

The Board of Directors also granted permission to Aeroflot’s management to use PJSC Aeroflot’s own funds to stabilise Transaero within established limits.

Aeroflot CEO Vitaly Saveliev said: «Aeroflot undertakes that all obligations to Transaero’s passengers will be fulfilled. Passengers will be guaranteed transportation or a refund in the event that a flight is cancelled». 

Aeroflot is Russia’s flagship carrier and one of the largest airline groups in Europe. In 2014, Aeroflot carried 23.6 million passengers (34.7 million passengers as Aeroflot Group including subsidiaries), a record for any Russian airline. A proud member of the SkyTeam global airline alliance, Aeroflot and its partners serve 1,052 destinations in 177 countries worldwide. Aeroflot operates one of the youngest fleets in the world, numbering 163 Airbus, Boeing and Sukhoi airliners. Aeroflot is among the global leaders in aviation safety. The company’s European Community Safety Assessment of Foreign Aircraft (SAFA) Index, which is the main globally recognized safety parameter, is comparable to global peers. The first Russian carrier to enter the IATA Operational Safety Audit (IOSA) register, renewing its registration for the sixth time in 2015, Aeroflot has successfully passed the IATA Safety Audit for Ground Operations (ISAGO) and is fully ISO 9001:2008, ISO 14001:2004 compliant. In 2015 Aeroflot was named by SKYTRAX as the Best Airline in Eastern Europe for the fourth time. Find more at www.aeroflot.com.