Aeroflot clarifies position with respect to Transaero equity capital

On Wednesday, a report appeared on the TASS newswire, citing Aeroflot’s Chairman of the Board Kirill Androsov, that the Board of Directors would consider acquiring a stake in Transaero if the new owners make such a proposal.

Aeroflot notes that while technically, the TASS journalist reported Mr. Androsov’s words accurately and without distortion, it wishes to clarify that these words should not be interpreted as confirmation that Aeroflot is ready to become a shareholder in Transaero. As Kirill Androsov explained, the Board of Directors would look at any proposals which it receives, as any Board would do in line with good corporate governance practices. This is the context in which his words should be understood. «However, Aeroflot will not consider any proposals to convert debts owed to Aeroflot into Transaero equity,» said Androsov.