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Buryatia will buy back shares of Aurora airline for 10 kopecks

Buryatia will buy back shares of Aurora airline for 10 kopecks

Buryatia will buy out 5% of shares in the united Far Eastern airline Aurora for ten kopecks. All regions of the Far East, as well as the Ministry for the Development of the Russian Far East and the Ministry of Transport of Russia, will take part in the management of the airline.

According to the press service of the regional Ministry of Transport, Buryatia will acquire 38 ordinary shares of Aurora, the par value of which is ten rubles per share. As the deputy chairman of the regional government for infrastructure development Yevgeny Lukovnikov noted, this amount is 861% of the authorized capital, the government of the republic acquires them for a symbolic amount of ten kopecks.

According to the decree of the Government of the Russian Federation, a package of shares was transferred to the Corporation for the Development of the Sakhalin Region for granting them the ownership of ten subjects of the Far East in an equal amount for each.

At the end of last year, Aeroflot's board of directors approved a deal to transfer the Aurora company to the Sakhalin authorities. The sale of 51% of the shares will amount to one ruble.

According to the press service of Aeroflot, the company will be controlled by the Sakhalin Region Development Corporation. But "Golden share" the single airline of the Far Eastern Federal District will receive the Ministry of Eastern Development. 

Create an airline for the Far East in January 2020 instructed the government Vladimir Putin. According to a nationwide economic recovery plan, the carrier was offered to spend 30 billion rubles. The authorities of the Far Eastern regions agreed to conclude a protocol on the organization of a new transport association. 

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