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MOSCOW (MT) -- After 70 years as a state monopoly, the Russian airline has announced its incorporation as a company that will be publicly traded, according to a report in Izvestia.
As part of the conditions of incorporation, airline workers agreed that a controlling majority of the new company's stock would belong to the government for a period of three years, the paper reported.
The minority shares will be sold to workers, the public and foreign or Russian companies.
Currently, Aeroflot employs 19, 500 people and estimates its net worth at 2. 77 billion rubles. Several subsidiaries have declined to become incorporated into the new Aeroflot company.
Aeroflot to Go Public
02 October 1992
The Moscow Times
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