Aeroflot transfers 49% stake in Aurora to Sakhalin Oblast

Aeroflot has transferred a 49% stake in its Russian Far East subsidiary, Aurora, to Sakhalin Oblast. The transaction follows a Cooperation Agreement signed between between Aeroflot and Sakhalin Oblast on November 6, 2013 in which shares in JSC Aurora Airlines are to be transferred in tranches from Sakhalin Oblast to other regions in the Far Eastern Federal District. Formed out of the amalgamation of Vladivostok Air and SAT Airlines, Aurora aims to promote the social and economic development of Russia’s Far East through the development of three hubs located in the region's Southern, North-Western and Far Eastern federal districts.