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MOSCOW () -- Bank, once a sponsor of an airline reservation system being developed for use in Russia, has withdrawn its support for the project.
According to a letter signed by the president of the company, Aeroflot Bank thought there were too many questions involved in Sirena-3 reservation system to make it worthwhile. The letter also cited the rapidly changing climate in Russian air transportation and Sirena-3's reliance on foreign technology -- as opposed to Russian -- for reasons to rethink their investment.
Tatyana Fedorenko, a representative of the Sirena project, said Aeroflot was not a major investor in the venture and that development would proceed apace.
Setback for Ticket Plan
29 December 1994
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