newswatcher
27th Jul 2001, 15:57
Evening Standard reports:
"AEROFLOT is in talks to start up an airline in Ireland allowing Russia's international carrier to take advantage of the European Union's "open skies" policy.
"The airline will be created from scratch," Aeroflot's London- based commercial projects representative, Boris Krivchenko, told a Moscow newspaper. "The business plan is already prepared and will be presented to the Aeroflot board of directors in August and then to Aeroflot shareholders for approval."
A dozen potential international investors have expressed interest and are in talks with the airline, he said.
The move follows an abortive attempt by the Russians to buy Virgin Express Ireland and speculation that Aeroflot might take a significant stake in troubled State-owned Aer Lingus.
The aim is to find a strategic partner. "We fly to London from Moscow, but we cannot fly within Europe," said Krivchenko. "We need a commercial helper to connect flights." EU rules dictate 51% of a new airline must be owned by European investors.
Aeroflot general-director Valery Okulov, former Russian President Boris Yeltsin's son-in-law, recently made clear the search for a European partner "is continuing - foremost in Ireland".
"All the analysis we have made says it would be beneficial for Aeroflot," he said. The hope is for the airline to be flying by next summer, though sources said Aeroflot was also examining other options."
"AEROFLOT is in talks to start up an airline in Ireland allowing Russia's international carrier to take advantage of the European Union's "open skies" policy.
"The airline will be created from scratch," Aeroflot's London- based commercial projects representative, Boris Krivchenko, told a Moscow newspaper. "The business plan is already prepared and will be presented to the Aeroflot board of directors in August and then to Aeroflot shareholders for approval."
A dozen potential international investors have expressed interest and are in talks with the airline, he said.
The move follows an abortive attempt by the Russians to buy Virgin Express Ireland and speculation that Aeroflot might take a significant stake in troubled State-owned Aer Lingus.
The aim is to find a strategic partner. "We fly to London from Moscow, but we cannot fly within Europe," said Krivchenko. "We need a commercial helper to connect flights." EU rules dictate 51% of a new airline must be owned by European investors.
Aeroflot general-director Valery Okulov, former Russian President Boris Yeltsin's son-in-law, recently made clear the search for a European partner "is continuing - foremost in Ireland".
"All the analysis we have made says it would be beneficial for Aeroflot," he said. The hope is for the airline to be flying by next summer, though sources said Aeroflot was also examining other options."