Russia's Aeroflot plans $3b cash injection, said to eye big jet order

Under heavy pressure from Western sanctions and airspace bans, Russian state flagship airline Aeroflot (AFLT.MM) plans to raise up to 185.2b roubles ($3b) in an emergency share issue, it said on Tuesday. Aeroflot, controlled by the Russian state, said shareholders at its annual meeting had approved the issuance of 5.42b new shares that could be bought at a price of 34.29 roubles each under an open subscription. The airline also plans to order 300 aircraft from United Aircraft Corporation, which is majority owned by Rostec, Russia's state aerospace and defence conglomerate, the Vedemosti business newspaper reported. The paper, citing two sources, said Aeroflot was eyeing the Irkut MS-21 medium-range plane, also known as the MC-21, which can carry more than 200 passengers and is due to enter service this year. Aeroflot also wants the Sukhoi Superjet 100, Russia's main domestic-made passenger jet, which typically seats just under 100 passengers. A smaller number of orders would be made for the Tupolev Tu-214, which seats around 200 people, it said. With passenger numbers still down by a third compared with pre-coronavirus levels at the start of the year, the company has since been severely hit by Western sanctions.<br/>