Aeroflot may sell regional unit to Norilsk
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
- Aeroflot is in negotiations to sell its regional unit, Nordavia, to Norilsk Nickel.
- Nordavia operates services between Moscow and Arkhangelsk and Murmansk.
- Norilsk Nickel already has its own airline, Nordstar, which primarily operates as a charter carrier.
- Aeroflot shares gained 2.1% following the news, showing positive share market performance.
- European airline shares, including Cimber Sterling, Lufthansa, and SAS Group, traded lower.
- The selected EAD daily share price movements on 16-Mar-2011 reflected the decline in European airline shares.
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