Alfa Group Has Been Disappointed in Aircraft Business

Russian newspaper Vedomosti has found out that investment branch of Alfa Group, called A1, being disappointed in aircraft business, has decided to sell its 51% stake in OOO “Avianova”. The decision was made in the end of 2010, as Dmitriy Chernyak, managing director of A1, told Vedomosti.

A1 is actively seeking for a buyer for the asset. The stake has been already proposed to Aeroflot who was not very interested at the time. Investment bankers value their “Avianova” stake at roughly $70 million, market sources report. 

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