Air companies “Yakutia” and “Polar Airlines” to merge till September

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The Chair of the Government Galina Danchikova has signed the order on “traffic map” for the single holding company being developed on the basis of two state-owned air companies – “Yakutia” and “Polar Airlines”. The first deputy of the Minister of Transport Georgy Egorov told about the merger of two companies in the conversation with the YSIA.


«The merger has a purpose to hold a competitive position of the republic’s air transport. Consolidation in airline industry, airlines’ enlargement, creating a new holding company and the optimal specialization will improve our air transport’s efficiency and safety», – Georgy Egorov, the first deputy of the Minister of Transport in Yakutia, said.

According to him, the merger into the single company implies 100 percent of shares to be brought in the charter capital of the air company “Yakutia”. The legal entity “Polar airlines” will be saved. The regional government will have the minimal stock of shares in order to provide an united management system. This is proved by the Egor Borisov’s order on decreasing the participation of the republic in management of the joint stock company “Polar Airlines”.

So far, according to the traffic map, the preliminary agreement of the anti-monopoly authority is being received. Then market-based valuation of shares of “Polar Airlines”, the decision on the privatization terms of the government-owned property, sending the set of documents to the Central Bank of the Russian Federation will be done. All preparation should be done by August 31 deadline.

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