Belarus’ government might sell its share in Transaviaexport Airlines

MINSK, 30 September (BelTA) – The Transport and Communications Ministry of Belarus has suggested that the government should hold an auction to sell its share in Transaviaexport Airlines, Belarus’ Transport and Communications Minister Anatoly Sivak said on 30 September at the question and answer session organized by the Respublika newspaper, BelTA has learnt.

“The conditions of the sale have been developed by the Transport and Communications Ministry,” he noted. The minister informed that the buyers will have to preserve the major line of business of the company and invest a certain amount of funds into renewing the fleet of aircrafts.

Anatoly Sivak specified that three investors – companies from England, Russia and Turkey – wanted to buy the stake. “We upheld the suggestion to sell all the shares controlled by the state. We started preparing the necessary documents. The final decision on the matter has not been made yet,” he said. At present the government is studying the ministry’s suggestion to arrange the auction.

Anatoly Sivak informed that the starting price for the stake stood at $19 million on 1 April. The minister emphasized that this is the starting price and it might change. “This is a working document, however if the final decision is made, the stake will be revaluated taking into consideration the prices effective on 1 October,” the minister said.

As was reported earlier, the registered capital of Transaviaexport Airlines exceeds Br27.8 billion. The government owns 99.88% of the shares; the remaining stock belongs to the company employees. The company has 13 aircrafts; six of them are in commercial service.

According to the Aviation Department of the Transport and Communications Ministry, Transaviaexport Airlines maintains a stable position in the market of air transportation of cargo. The company has been transporting cargo to the CIS and non-CIS states for over 20 years. Transaviaexport Airlines operates commercial and charter flights. It is registered at the International Civil Aviation Organization (ICAO) and closely cooperates with international organizations like the Interstate Aviation Committee, and the International Air Transport Association. Being an official air carrier of the United Nations, the company transports humanitarian cargo to regions affected by natural disasters and catastrophes.