Aeroflot is reportedly in negotiations with Norilsk Nickel, to sell its Nordavia regional unit, which operates services between Moscow and Arkhangelsk and Murmansk. The carrier operates a mixed fleet of older Boeing narrobodies and Antonov turboprops. Norilsk already has its own airline, Nordstar, which operates primarily as a charter carrier for Norilsk's operations. Aeroflot shares gained 2.1% yesterday, one of the few airlines in Europe to show positive share market performance.
European airline shares traded generally lower, with Cimber Sterling, Lufthansa and SAS Group losing the most ground.
Selected EAD daily share price movements (% change): 16-Mar-2011
Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.