20-Dec-2010 1:31 PM

Aeroflot to sell 51% of Nordavia to Taimyr Airlines: reports

Aeroflot will reportedly sell a 51% stake in Nordavia, its subsidiary that operates in the north-west of Russia (RIA Novosti, 17-Dec-2010). Aeroflot has reportedly approved the agreement under which Taimyr Airlines would acquire a 51% stake in Nordavia, which has failed to fit into Aeroflot's new development strategy. The Aeroflot board reportedly unofficially approved the agreement in Nov-2010 and will officially discuss the sale at the end of Jan-2011. Nordavia operates a fleet of 23 aircraft.