Russian start-up carrier Azimuth (A4, Rostov Platov) is likely to be partly purchased by Rostov's Regional Development Corporation, reports news site TASS.
"[The Rostov region will receive] 25% - a blocking stake," said the airline's Executive Director, Eduard Teplitsky. "This gives them the opportunity to participate in board meetings, and make decisions about investments, because it will be supported by the state."
The value of the transaction was not disclosed, but is expected to be finalised by end-November.
Azimuth has connections to co-owner of Moscow Vnukovo airport Vitaly Vantsev, as well as former Yakutia Airlines (R3, Yakutsk) managers Pavel Udod and Pavel Ekzhanov. It commenced charter operations in mid-September, with a fleet of four SSJ 100/95s. This number is expected to grow to sixteen of the type.
Although currently based at Rostov's current airport, the airline will shift to the newly built Platov at the end of 2017, where it will be the main carrier. The new airport has been built for the upcoming FIFA World Cup which will be held in Russia in 2018, with Rostov-on-Don one of the selected venues.
Currently, Azimuth operates from Rostov to Ekaterinburg, Makhachkala, Moscow Vnukovo, Novosibirsk, Samara Kurumoch and St. Petersburg, from Krasnodar to Makhachkala and St. Petersburg, from Moscow Vnukovo to Omsk.
