Malaysian government in talks to buy bankrupt Transaero

TransaeroA state-owned Malaysian investment fund is in talks with the Russian Investment Agency (RIA) about the possibility of buying Russia’s bankrupt Transaero airline, RIA President Yury Spiridonov confirmed this week. The agency has held two meetings with Malaysia’s Ministry of Transport where discussions have centred around the fund acquiring 50% of the airline with the RIA buying the other half in return for restructuring its debt. If the fund cannot turn Transaero around, then it could buy some of the airline’s fleet and set up a new airline.
Transaero’s largest creditors, including Sberbank, Vnesheconombank and VTB are said to support the proposals. “Malaysian investors have experience of working with debts – they have already restructured Malaysia Airlines which was $6bn in debt,” Spiridonov said.

Source: 1prime