Can confirm this is the Aeroflot project. Skynet has been trying to buy into several Irish AOC's over past few months, without success. Now plan to get their own AOC but major question mark over beneficial control of the airline. Currently Aeroflot and their ex UK general manager UK (just retired, but on contract to Aerflot)hold 49% of new company. 20% held by US investors. 20% of Skynet offered for 100% of Irish AOC company, but rejected as capitalization far too low to ensure sucessful launch of B737-400 operation. Plan is to feed pax from destinations in EU into Aeroflot trans atlantic services from Shannon, in competition with Aer Lingus and US carriers, utilisising traffic rights granted ex-Shannon by Irish govt. in the past. Given the fact that Aer Lingus probably wont exist in a few weeks time, perhaps their timing is good. Aeroflot will then be the new Irish transatlantic airline!!