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Hungarian Carrier Not in State Sights.
(From The Moscow Times)
Russian Technologies will not be making a play for Hungarian carrier Malev despite gobbling up the state's stakes in parent company AiRUnion, the recently formed state corporation said in a statement.
After months of lobbying from Russian Technologies chief Sergei Chemezov, President Dmitry Medvedev finally signed a decree last Monday handing over government assets in the airline conglomerate to the state corporation.
Over the next month, majority stakes in AiRUnion subsidiaries Domodedovo Airlines and KrasAir and a 46.5 percent stake in Samara Airlines will be handed over to Russian Technologies.
AiRUnion, the country's third-biggest carrier, unites five airlines under the management of KrasAir bosses, twin brothers Boris and Alexander Abramovich. In early 2007, then-President Vladimir Putin signed a decree consolidating AiRUnion into one company.
The final makeup of the company has been held up by wrangling over the size of the government's stake, after an audit from Deloitte put the state's holding in the unified company at 58 percent, worth 4.36 billion rubles ($158 million).
AiRUnion scooped up Malev in April 2007 in a bid to break into international markets but never moved to merge the Hungarian carrier into the main company. Russian Technologies said in a statement that Malev would not be absorbed into AiRUnion.
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