Aeroflot to create low-cost and charter airline subsidiaries
Aeroflot announced plans to launch a low-cost carrier and charter subsidiary as part of plans to quadruple traffic figures by 2025 (RIA Novosti, 29-Sep-2010). The airline indicated it plans to create a low-cost subsidiary through merging six smaller airlines that have been absorbed by the national carrier, with Orenburg Airlines likely to assume the role as a charter subsidiary. Aeroflot plans to move into all passenger and cargo markets to increase its revenues USD18 billion by 2025 and passenger traffic to 79.5 million. The airline generated USD4.5 billion in revenue in 2009 and carried 19.9 million passengers in 2009.