Aeroflot - Russian Airlines is engaged in negotiations to purchase Georgian Airlines company

Monday, June 24, 2019

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"Aeroflot - Russian Airlines is engaged in negotiations to purchase Georgian Airlines company", said Valeri Okulov, managing director of the Russian company. He is taking part in the Russian - Georgian business conference in Tbilisi. "The negotiations will last for more than a week", Okulov said refusing to give details of the proposed transaction. According to a source in the Russian delegation purchase of 100% of Georgian Airlines shares is at stake. The source reported that Aeroflot had already initialled the agreement with Georgian Airlines on purchase of the company. "This agreement is worth many a million dollars", said the source. The source also stated that initiated within the framework of the Russian business conference in Tbilisi were talks of the Volga Automobile Plant (Togliatti, Samara district in the Middle Volga Region) with the Georgian leadership and Tbilisi aviation plant on establishment of Niva cars production line in Tbilisi. According to him negotiations on construction of railroad branch, which will be financed by Russian, Armenian and Georgian businessmen, have also started. Official spokesperson of Air Zena - Georgian Airlines company, Tea Kakabadze confirmed to RIA Novosti the information about ongoing talks between Aeroflot president Okulov and Air Zena - Georgian Airlines president Tamaz Gaiashvili on purchase of the control stake of state-owned Georgian Airlines company, which filed for bankruptcy in mid-1990s. Then all the property of Georgian Airlines was passed over to Air Zena, debt holder of the air company. According to Kakabadze it will probably be known on Saturday how many shares are exactly in question.

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