Transport minister says Russia’s Transaero bankruptcy possible

MOSCOW, Sep 29 (PRIME) -- Russian airline Transaero may go bankrupt, Transport Minister Maxim Sokolov told reporters Tuesday.

Business daily Kommersant reported earlier Tuesday that the shareholders of Transaero have failed to consolidate a 75% plus one share stake in the airline for a sale to Aeroflot by the deadline of a bailout offer. Minority shareholders do not want to sell their stakes before they know the principles of the company’s debt restructuring and bailout, sources told the daily.

“We are already considering all scenarios,” Sokolov said, referring to bankruptcy.

Minority stakeholder Vitaly Vantsev said earlier that bankruptcy proceedings will prevent creditors from getting back about 99 billion rubles.

(65.5470 rubles – U.S. $1)

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