Loss-making Transaviaexport put on sale

The state sells its stake in OAO Transaviaexport Airlines.

The tender is scheduled for December 30, 2014. A 99.9% stake (6,543,050 shares worth 13,000 rubles per share) will be available for purchase. The stake is currently owned by the Ministry of Transport and Communication, BelaPAN reports.

Transaviaexport specialises in cargo transportation by air as well as aircraft repair and maintenance.

The company owns 13 Il-76 aircraft, including 11 Il-76TD and 2 Il-76MD planes.

Transaviaexport has its own airbase for servicing aircraft, nine real estate properties and a land plot of 528.93 hectares in the National Airport Minsk.

The company is registered in the International Air Transport Association (IATA) and is a member of the International Air Cargo Association (TIACA).

The company's losses in 2013 were 40.942 billion rubles, the accounts payable were 54.56 billion rubles. The company has 330 employees.