New Owner for Aerosvit

UKRAINIAN HOLDING company Privat Group has become the controlling shareholder in local carrier Aerosvit Airlines.  Through its banking subsidiary, Privat Group has boosted its shareholding in the Kiev-based carrier from 14.6% to just over 50% after agreeing to purchase a block of shares from the airline’s former chairman and his business partner.  It has invested around $30 million into the loss-making concern to help refinance the venture and clear part of its debts.
Privat Group also holds a controlling stake in Dnepropetrovsk International and Ivano-Frankovsk airports and a 94.57% shareholding in regional carrier Dniproavia, the later being acquired in September 2009 through an associated company.