Support The Moscow Times!

Aeroflot to Go Public

MOSCOW (MT) -- After 70 years as a state monopoly, the Russian airline Aeroflot 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.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more