June 30, 2016, 12:42 / Business / News

Transaero's shares jumped after the announcement of the company's revival

Quotes of Transaero shares at the beginning of trading on the Moscow Exchange soared by 36% to 6.73 rubles. per security - the maximum since March 17 - and by 12.00 Moscow time remained at the level of 6 rubles, significantly higher than the close (4.95 rubles). A sharp increase in the company's shares occurred after TASS reports that a new airline could be created on the basis of Transaero, in which Transaero employees would be involved.

Today in an interview with TASS, the company's CEO Alexander Burdin said that the practice of airline bankruptcies around the world shows that restarting the company, restructuring loans and converting them into shares is practically the only chance for creditors to get their money back. Transaero, he said, will soon present creditors with plans to restore operations and propose a debt restructuring scheme.

Transaero is considering two options for obtaining an operator certificate. First, a company can “apply for a new certificate” if it fails to challenge the revocation of its air operator certificate in court. The option of a merger, purchase or any other type of cooperation with an airline that already has an operator certificate is also being considered, Burdin noted. According to him, the company is interested in the Far East market.

In his opinion, the fleet of the airline, which may be created on the basis of Transaero, may consist of the Boeing 737 New Generation and Sukhoi SuperJet - 100, and in the future - MC-21.

Transaero stopped carrying passengers on October 26, 2015. Prior to this, Aeroflot bought 75% plus 1 share of Transaero for 1 ruble. By that time, Transaero had accumulated an unsustainable debt. As reported, the company's total debt was about 250–260 billion rubles. However, the deal with Aeroflot never took place - Transaero shareholders were unable to collect a controlling stake. Later it was reported that the company could be bought by S7 carrier shareholder Vladislav Filev, but he later abandoned his intentions. Until the end of October, Transaero was under the operational control of Aeroflot. The largest Russian carriers have also assumed obligations to transport passengers using tickets already purchased.

At the moment, the company is at the stage of bankruptcy, and a monitoring procedure has been introduced.

According to the list of affiliates of AK Transaero OJSC at the end of the first quarter of 2016, 59.48% of the authorized capital belongs to Alexander Petrovich Pleshakov. Another 13.01% belongs to Transaero's subsidiary, Transaero-Finance. Another 27.2% of shares are owned by more than 2,400 shareholders.