Russian Technologies will transfer six airlines valued at 2.5 billion rubles ($89.4 million) to Aeroflot Russian Airlines in exchange for stock in the Russian flag carrier, Aeroflot chief executive Vitaly Savelyev said Thursday.
At that value, Russian Technologies would receive 3.61 percent of Aeroflot shares. The valuation of the aviation assets is effective March 31, 2010. Aeroflot will be gaining Vladivostokavia, Kav-minvodyavia, Orenburg Airlines, Saratov Airlines, Sakhalin Air Routes, and the airline Rossia, Savelyev said.
The companies, except for Kavminvodyavia, are already incorporated; Kavminvodyavia will be by the end of June. Savelyev said they would be Aeroflot subsidiaries.