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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

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