Transaero shares on the Moscow Exchange collapsed by 40%

Transaero quotes at the beginning of trading on the Moscow Exchange on October 2 fell by more than 40% to 16 rubles per share. The collapse of securities of the airline was facilitated by reports of the extremely probable bankruptcy of the carrier.

Earlier on October 2, the Minister of Economic Development of the Russian Federation, Alexei Ulyukaev, called the bankruptcy "Transaero" "the only possible option" to solve the situation with the carrier. At the same time, Alfa-Bank, one of the company's creditors, announced that he intends to file a lawsuit in the arbitration court with a request to recognize the insolvency of Transaero.

Prior to this, sources of business media reported that another Transaero creditor - Sberbank - is also ready for the bankruptcy of the company. On October 1, it became known that all participants in the negotiations on the fate of the carrier agreed that there was no other possible decision.

On the evening of October 1, the Board of Directors of Aeroflot decided to refuse to purchase a 75% plus of one Transaero Promotion for one ruble. On the same day, the Federal Air Transport Agency forbade Transaero to sell tickets for regular flights.

Transaero, the largest private airline in the Russian Federation, has been in a difficult financial situation since the middle of last year. The carrier’s debt to the creditors banks by the end of the first half of 2015 exceeded 67 billion rubles. In early September, the government decided to support Transaero, transferring control over it to Aeroflot.