Russian carrier Transaero is in danger of collapse after Aeroflot pulled out of purchasing a stake in the struggling airline.
Last month, government-owned Russian flag carrier Aeroflot announced it would buy a 75 per cent controlling stake in Transaero for one rouble (see news, September 1).
However, Transero stakeholders missed a deadline to present an offer for the purchase of the 75 per cent stake, reports Reuters.
As a result, Aeroflot has decided against pursuing its offer.
CEO Vitaly Saveliev said: “Aeroflot undertakes that all obligations to Transaero’s passengers will be fulfilled. Passengers will be guaranteed transportation or a refund in the event that a flight is cancelled.”
Transaero is Russia’s second largest carrier, after Aeroflot.