Source: Sberbank, VTB to design plan to create airline by 2019

SOCHI, Oct 18 (PRIME) -- Russia’s two biggest lenders Sberbank and VTB are developing a business plan to create an interregional airline and plan to finish the work until the end of 2018, a source familiar with the matter told PRIME on Thursday.

Business daily Vedomosti reported earlier on Thursday that the government had ordered Sberbank and VTB to establish an airline for interregional flights with the passenger traffic planned at 6–10 million people a year.

The source said, “Yes, it’s true, the work on the plan is underway. It’s expected that it will be definitely ready until the end of the year.”

Deputy Prime Minister Maxim Akimov said the banks had not sent an application and a plan to create an interregional airline to the government. “I know that several operators have ideas and thoughts in this respect. I cannot comment on at which stage the process is, there have been no specific proposals to the government. No business plans or applications have been sent to us.”

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