Russia's AiRUnion to consider BÉT listing


Russia's largest airline union, AiRUnion is planning to become the second-largest airline in the country in 2006 and is seriously contemplating to enter the Budapest Stock Exchange (BÉT), Boris Abramovich, the majority owner of Hungarian-Russian Airbridge said on Friday.
The merger process of the union, which consists of five airlines - KrasAir Airlines, Domodedovo Airlines, Samara Airlines, Omskavia Airlines and Sibaviatrans Airlines -, is underway and the merged company should start operating in mid-2006 after a three-phase procedure. AiRUnion has also started talks with oneworld, the world's leading airline alliance.
Before cancelling the planned sell-off of Malév, Hungary's State Privatisation and Holding (ÁPV) Rt was in talks with KrasAir-led consortium Airbridge Rt, which is 51% owned by Hungarian investors and 49% by well-known Russian businessman Boris Abramovich. Airbridge was established by AiRUnion.
AiRUnion, which has a fleet of over 100 aircraft, is to carry 4 million passengers this year. The alliance plans to collect $850-$900 million in revenues in 2005.


The New Age of Commerce is Approaching Analysis

The New Age of Commerce is Approaching

Horthy Statue to be Unveiled in Parliament Parliament

Horthy Statue to be Unveiled in Parliament

UPS Appoints Regional Director Appointments

UPS Appoints Regional Director

Completion of Metro Line M3 Renovation Delayed City

Completion of Metro Line M3 Renovation Delayed


Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.