**Breaking News** Russia’s Aeroflot to acquire Transaero Airlines

Russia’s largest airline, Aeroflot, will acquire Transaero Airlines, according to a Transaero statement.

A government commission backed the acquisition in a meeting led by First Deputy Prime Minister Igor Shuvalov, Transaero said.

“In the interests of the development of the commercial aviation and creating one of the largest in the world group of airlines, the commission has approved the acquisition of JSC Transaero Airlines by Aeroflot Group,” the statement said. “The shareholders of Transaero Airlines believe this measure will serve the interests of passengers, personnel and partners of the airline.”

No other details of the transaction were released.

In May, Transaero reported a 2014 net loss of RUB14.5 billion ($255 million). Aeroflot Group reported a 2015 first-half net loss of RUB3.54 billion, narrowed from a net loss of RUB1.91 billion in the year-ago period.

(Linda Blachly - ATWOnline News)