The co-owner of S7 bought a controlling stake in Transaero. What's happening to Transaero? What really happened to Transaero? Transaero company management
Ten million passengers
CJSC S7 Group of Companies is 100% owned by the founders of Siberia Airlines, Vladislav and Natalya Filev. Owns 97% of the shares of the fourth largest airline in Russia, Siberia Airlines, and 100% of the ninth largest airline, Globus (both operate flights under the S7 Airlines brand). In 2014, the group's airlines carried 10.06 million passengers. The total revenue of the companies in 2014 amounted to RUB 86.1 billion, net profit - RUB 1.39 billion
Creditors will think
Vladislav Filev told RBC that S7 shareholders “have a plan to resolve relations with Transaero’s creditors.” He refused to talk about the details of the plan, noting only that the new shareholders “will try with all their might to avoid bankruptcy of the airline.” Sberbank and Alfa Bank filed bankruptcy claims for Transaero at the end of last week and beginning of this week. Yesterday, the Kommersant newspaper reported that the company’s operator’s certificate could be revoked any day now.
Transaero's debt is about 260 billion rubles, of which 160 billion is due to aircraft leasing, 85 billion rubles. - for bank loans, the rest is debt to fuel companies, airports and service providers. When asked whether Transaero's creditors would resume negotiations on debt restructuring after the deal with Filev, a top manager of one of the banks - the airline's largest creditors - replied that it "depends on the conditions."
For the first time information that the S7 group can take part in the rescue " Transaero ", appeared in early September. As RBC reported then, VTB representatives proposed to transfer “ Transaero » to S7 management at a meeting in Ministry of Economic Development September 2 - the very next day after it was decided at a meeting with First Deputy Prime Minister Igor Shuvalov to transfer 75% plus one share " Transaero" to Aeroflot.
“This [transition of Transaero under the management of S7] would make it possible to better guarantee the rights of the carrier’s creditors,” a source close to one of the airline’s creditors told RBC at the time.
“Anything that does not lead to bankruptcy of the airline is good. So this deal is good news for Promsvyazbank. I hope that the new management will take into account the interests of Transaero’s creditors. The bank is ready for constructive negotiations on methods and possibilities for debt repayment and restructuring,” Vladimir Yashin, first deputy chairman of the board of Promsvyazbank, told RBC. Transaero's debt to Promsvyazbank amounts to 7.5 billion rubles, and the bank also holds four of the carrier's aircraft as collateral.
Chairman of the Board of Absolut Bank (Transaero's debt to the bank, according to RBC sources, is 2.7 billion rubles) Andrey Degtyarev told RBC that he “welcomes the deal.” “Absolut Bank, for its part, as one of the creditors, will make every effort to support the new owner and get Transaero out of the situation in which it finds itself,” Degtyarev said.
Troubled carrier
On September 1, an interdepartmental commission chaired by First Deputy Prime Minister Igor Shuvalov decided to transfer Transaero to Aeroflot for a symbolic ruble. It was assumed that Aeroflot would ensure the fulfillment of obligations to transport passengers of its competitor, pay for the services of airports and fueling complexes, and pay wages to staff. Aeroflot was supposed to undertake servicing of Transaero's credit obligations only after agreeing on a loan debt restructuring program with banks. On September 3, the board of directors of Aeroflot accepted for consideration the offer of Transaero shareholders to sell the state-owned company 75% plus one share “at a price of the specified block of shares of no more than 1 (one) ruble.” The offer period, according to the decision, expired on September 28.
From the beginning of September, Aeroflot took control of the company. At the same time, it was headed by former deputy general director of Aeroflot Dmitry Saprykin. But after a couple of weeks it became clear that Aeroflot may not be able to save Transaero. Already on September 15, German Gref, chairman of the board of Sberbank, a consultant to Aeroflot and a major creditor of Transaero, said that bankruptcy of the debtor was not excluded. “By all indicators, Transaero is already bankrupt,” Gref said. Following him, officials started talking about bankruptcy. The offer from Transaero shareholders to Aeroflot expired on September 28, but the deal never took place.
Formally, the sellers failed to assemble the required package. Olga Pleshakova told RBC that her husband Alexander Pleshakov collected a little less than 60%, and the creditor banks - VTB (25% plus one share as collateral) and MKB, according to her, refused to remove the pledges from the shares.
On October 1, at a meeting with Prime Minister Dmitry Medvedev, a decision was made to bankrupt the airline. Aeroflot refused the deal, but committed to transporting its competitor’s passengers until December 15, or 95% of all customers; the rest were promised compensation. On the same day, the Federal Air Transport Agency banned Transaero from selling new tickets. After this, 12 creditor banks wrote a letter to Medvedev, in which they indicated that the bankruptcy of the airline would lead to a deterioration in the competitive environment and the quality of air transportation in the country, as well as to a significant underfinancing of the real sector of the economy on the part of creditor banks and leasing companies. Of these, six creditor banks on Monday turned to Pleshakova, who heads the board of directors of Transaero, with a demand to change the general director, since Saprykin, in their opinion, has an “obvious conflict of interest.”
The other day, two major creditors of Transaero - Sberbank and Alfa Bank - filed bankruptcy claims. VTB also announced its intention to file a bankruptcy claim.
With the participation of Elena Tofanyuk and Timofey Dzyadko
– private airline, which began air transportation in December 1990. The company is one of the top ten in the world in ensuring flight safety.
Source: http:// .pro/blog/aviakompaniya-transaero
History of the Transaero company
The company was founded in 1991 by the son of the USSR Minister of Radio Industry, Alexander Pleshakov, and since 2001 has been managed by his wife Olga.
Between them they own 36.6% of the company, another 3% belongs to Alexander’s mother Tatyana Anodina, chairman (MAK).
Transaero Airlines received the international safety certificate IOSA.
Introduction of the Imperial class on new generation aircraft joining Transaero's fleet - Boeing 777 and Boeing 747-400.
New Transaero flights were launched from Moscow to Krasnoyarsk.
The airline opened 12 new routes across Russia, to the cities of Blagoveshchensk, Irkutsk (it stopped flying in the fall of the same year), Kazan, Kemerovo, Magadan, Magnitogorsk, New Urengoy, Omsk, Samara, Ulan-Ude, Ufa, Krasnodar. As of June 2009, Transaero operated 16 flights across Russia.
For the first time, Transaero began flights to Mexico - to the famous world resort of Cancun.
Transaero has completely switched to e-ticket, abandoning the paper ticket that has become familiar.
The airline's fleet reached 57 units.
February - the shares of JSC AK Transaero were listed on.
April - official pages of the airline were created in in social networks Facebook, VKontakte and microblog on Twitter.
August - Transaero became the first customer of A320neo aircraft in Russia, the CIS and Eastern Europe. WITH by Airbus a memorandum was signed on the purchase of eight A320neo aircraft with an option for 4 aircraft of this type. The catalog price of eight aircraft is $729 million.
October - the airline became the first customer of the largest passenger double-decker Airbus aircraft A380 in Russia, CIS and Eastern Europe, having signed a memorandum of understanding with Airbus. It was announced the acquisition of four aircraft of this type (catalogue value of 1.5 billion euros), the expected delivery date is from the fourth quarter of 2015).
November - the airline was the first in Russia, the CIS and Eastern Europe to order 4 747-8 Intercontinental aircraft. Transaero plans to purchase airliners in a four-class configuration with big amount premium class seats.
December - Transaero acquires 4 Boeing 787 Dreamliner aircraft. The airliners will replace the Boeing 767.
The airline began operating flights from Vnukovo Airport.
The airline began flights to the following destinations: Los Angeles, Rome, Venice, Milan, Paris.
June - within the framework of the St. Petersburg Economic Forum, the airline signed a firm contract with Airbus S.A.S. for the supply of 4 A380 airliners (worth $1.7 billion) and with the enterprise " Civil aircraft Sukhoi" for the supply of 6 Sukhoi Superjet aircraft with an option for another 10 aircraft (worth $0.5 billion).
August - Transaero and Virgin Atlantic entered into a code-sharing agreement. In accordance with it, Transaero flights between Moscow and London will have a joint code UN/VS with Virgin Atlantic. At the same time, Virgin flights
In 2013, the company's revenue increased by 16%, net profit by 14%, to 1 billion rubles.
In terms of transportation volume, Transaero is second only to "" - in 2013 the company transported about 12.5 million people. The fleet consists of 103 aircraft, of which 20 are long-haul Boeing 747s.
It is based at Moscow's Vnukovo and Vnukovo airports, also forming an additional hub at St. Petersburg airport. Operates passenger and cargo flights throughout Russia, as well as international medium- and long-haul flights to Europe, Asia, North and Latin America.
Transaero service classes
- Imperial
- Business
- Premium class
- Economy class
- Tourist class
- Class "Discount"
Contacts of Transaero airline
Website: http://transaero.ru/
VK: https://vk.com/transaero
Facebook: https://www.facebook.com/transaero
Tel.: +7 495 788 8080
Tel.: 8 800 555 3 555 (free within Russia)
According to the 2014 rating, Transaero airline ranked 17th in the world in terms of flight safety and was considered one of the most reliable carriers in Russia. During the entire existence of this brand, not a single human victim was recorded. But, unexpectedly for many, at the end of October 2015, the Federal Air Transport Agency canceled the operator’s certificate, and Transaero was declared bankrupt. The question of where Transaero planes are and critical statements from passengers of the former giant still often arise in the media.
Boeing 737-400 (Boeing 737-400)
Transaero routes covered more than 150 destinations around the world. In terms of fleet size and number of passengers, the company ranked second in Russia, and in long-haul aviation it consistently held the undisputed leadership not only in the country, but throughout the CIS.
Until 2014 base airport served at Moscow Domodedovo, and later flights began to be carried out at Vnukovo.
On October 20, 2015, the CEO and co-owner of S7 Airlines decides to acquire a controlling stake. But the deal did not take place, and Transaero soon ceased to exist. All international routes were transferred to the Russian Aeroflot, and most of the ships were taken out of service and placed in storage at various airports in Russia and abroad.
Airbus A321-200 (Airbus A321)
Where are Transaero planes today?
There were 104 ships, of which:
- Boeing (Boeing) - 97 units;
- Airbus (Airbus) - 2 units;
- Tupolev (Tupolev) - 5 units.
The oldest airliner at the end of 2015 was the 28-year-old Boeing 767-200, and there were only six new aircraft.
After clarifying the circumstances of bankruptcy and decommissioning of the aircraft, the lessors of the aircraft leased a certain number to new owners. Some were detained for non-payment of airport taxes, the fate of the rest is in limbo.
Boeing 737-500 (Boeing 737-500)
Goodwill of Aeroflot
The Aeroflot group and its member airline Rossiya agreed to help the laid-off employees of the liquidated carrier find employment and lease 34 aircraft for them. After an engineering examination, it turned out that nine units should not be allowed to fly at all.
One of the main problems was the so-called cannibalization, that is, the replacement of main components not with new units, but with ones borrowed from another ship. Therefore, often a spare part belonging to one lessor ended up on board belonging to another. Such confusion led to complete chaos and a lack of regulatory documentation on safety and operation. In this regard, Aeroflot is ready to include and service only 25 aircraft.
Boeing 737-700 (Boeing 737-700)
The creators of Transaero, Alexander and Olga Pleshakov, left the country, two sources told Forbes - a businessman and a federal official. According to one of them, the Pleshakovs left several months ago, but sometimes visit Russia. Also, Forbes’ interlocutor clarified, Pleshakov’s mother, head of the Interstate Aviation Committee Tatyana Anodina, also joined them. A third Forbes source in investment banking circles said the family now lives in France. It has not yet been possible to contact the Pleshakovs.
In early September, the decision that Transaero, which was in dire financial condition (the total debt as of mid-2015 amounted to 250 billion rubles), should come under the control of Aeroflot, was made at a meeting with the First Deputy Prime Minister of Russia Igor Shuvalov with the participation of the company's main creditors: VEB, VTB and Sberbank. For 1 ruble, Aeroflot was supposed to receive 75% plus one share of the company by September 28 and take upon itself to solve the problems of Transaero passengers and staff.
In September, Transaero came under the operational control of Aeroflot, and Olga Pleshakova, who together with her husband Alexander Pleshakov owned the company, left the chair of Transaero's general director. However, the Pleshakovs were unable to collect the block of shares necessary to complete the transaction: to do this, it was necessary to come to an agreement with minority shareholders and VTB, which had 25% of the company’s shares as collateral. Aeroflot refused the deal.
On the evening of October 20, it became known that Transaero was interested in the co-owner of S7 Group, Vladislav Filev. He signed an agreement with Pleshakov providing for the sale of a 51% stake in Transaero to the co-owner of S7 Group, RBC wrote. The businessmen did not name the amount of the transaction, but Pleshakov said that it was significantly higher than 1 ruble - the symbolic amount of the proposed deal with Aeroflot.
The day after Filev and Pleshakov agreed on the deal, the First Deputy Prime Minister said that law enforcement agencies should pay attention to how Transaero found itself in the current difficult financial situation for the company. A few days later, on October 26, Rosaviation revoked Transaero’s operator’s certificate. Without this document, companies are not allowed to fly. Until last week, Transaero was under the operational control of Aeroflot, which organized the transportation of more than 90% of passengers who had airline tickets. Aeroflot also received 56 international destinations from Transaero and 12 aircraft from its fleet.
On Monday, November 2 with Pleshakov, because he does not have the required 51% of Transaero shares. Olga Pleshakova posted an appeal from Alexander Pleshakov on her Twitter page, from which it follows that the 60-day transaction period provided for by the agreement between Filev and Pleshakov has not yet expired. In turn, Natalya Fileva, the wife and partner of Vladislav Filev, told Forbes that if Pleshakov collects the 51% required by Filev before the expiration of the agreement, the deal will take place.