The St. Petersburg government plans to sell 25%, plus one share, of Rossiya Airlines.
The company is included in the draft 2019 privatization plan published on the city administration’s website Aug. 5. The company’s net asset value is quoted as RUB7.4 billion ($113 million), the government said in a document.
Rossiya Airlines is based at St. Petersburg’s Pulkovo Airport. From January-June, the airline carried 5.09 million passengers, up 7.2% year-over-year.
Aeroflot Group owns 75%, minus one share, of Rossiya Airlines. Aeroflot received the shares from Rostec, a state corporation controlled by the Russian Federation, together with shares of four other regional carriers, in November 2011. In 2014, Rossiya transferred all its flights under Aeroflot’s SU code.