The "Transaero" management team in cooperation with the consultants had prepared "an effective and functional" plan of creation of the new airline company. "According to the regulations, the top management of the company should submit a plan to the committee of directors for approval.

The staff of Transaero airline must be informed within the shortest possible time that they need to leave the company, Russia’s Federal Air Transport Agency said in a statement following a meeting on employment of Transaero workers. "It was strongly recommended to Deputy Director General of Transaero Leonid Kligerman to inform as soon as possible the entire staff of Transaero about the need to resign from the airline," the statement said.

Businessman Vladislav Filev withdrawing from the deal for the acquisition of Transaero shares is a violation of an agreement with the current shareholders, the wife of Transaero shareholder Alexander Pleshakov Olga Pleshakova said in her Twitter blog on Tuesday. On November 2 Filev’s representative said that the businessman was withdrawing from the deal due to the fact that the company’s shareholders were not able to collect the required stake with no legal charges.

Outstanding legal claims of third parties in respect of Russian Transaero airline’s shares prevented the Russian businessman and co-owner of S7 airline Vladislav Filev from buying the controlling stake and resulted in his exit from the deal, his spouse and co-owner of S7 Natalia Fileva and the shareholder’s representative told TASS on Monday.

Former owners of Transaero air carrier (the Pleshakov family) have put together 72% of the company’s shares for closing the deal with Aeroflot, Transaero’s former CEO Olga Pleshakova wrote in her Twitter microblog. Part of the shares was held in pawn in one of the state banks. Another state bank was to provide another 3% and announced its intention to do so at a meeting on September 1, according to Pleshakova.

Transaero shares increased by 40% to 10.95 rubles per share in the early trading on the Moscow Stock Exchange on Tuesday. On October 26 Olga Pleshakova, the former CEO of Transaero, summed the activities of the airline which has been on the market since 1991. "Transaero has served over 86 million passengers, mastered 11 types of aircraft, including three Russian. It managed to establish the operation of Boeing-747, the largest passenger plane in Russia, CIS and Eastern Europe," Pleshakova wrote in her Twitter blog on Monday.

Shares of Transaero airline plunged by 35.5% on the Moscow Exchange on Monday to 7.1 rubles per share after falling by 22% at the opening trade. On October 21, Transaero stock soared 187% in the course of trading. Experts say the surge last week was backed not by major investors but by small speculators thus, a sustainable growth of the company’s shares is unlikely. On October 22, Transaero shares dropped by 23% on the Moscow Exchange during the trading day. On October 21, the price of shares surged from 6.8 rubles to 19.5 rubles while by now the stock has almost lost all gains of October 21.

Only Aeroflot can close the gap in international flights after Transaero goes away, Russia’s Minister of Transport Maxim Sokolov said on Friday. "The most important now, when the license is canceled and the company [Transaero] will not make its flights, all our aviation market will be incompetitive in respect of other international airlines having everything in order and continuing to carry both their and our passengers with the same flying rates. Certainly, we need to reach parity and close the gap urgently. Certainly, only Aeroflot can do that with the fleet of wide-body aircraft flying mainly on international destinations," the minister said. Aeroflot took operational control over the distressed Transaero airline early in September. The decision on bankruptcy of the air carrier was taken by the Russian Government on October 1. Aeroflot will receive 56 international routes of Transaero as compensation of expenses for carrying Transaero passengers.

The Russian Ministry of Transport temporarily authorized Aeroflot to fly at 56 international routes of Transaero airline, the ministry said on Wednesday. "The decision was made to issue a temporary authorization to Aeroflot group of companies for 56 out of 156 international routes of Transaero for the purpose of ensuring air traffic continuity and preventing large-scale failures to carry passengers that bought tickets to Transaero flights," the ministry said.

Transaero airline operator certificate will be canceled from October 26, Russia’s Transport Minister Maxim Sokolov said Wednesday in the interview with Channel One Russia. "The decree on revoking Transaero operator certificate from October 26, 2015, was signed this morning," Sokolov said.

Russian President Vladimir Putin has urged carriage of all passengers of Transaero and solving the problem of employment of the airline’s employees. "First of all I would like to say that it is necessary to fulfill all obligations to passengers," he said at a cabinet meeting. He added that the majority of the company’s passengers have already been carried.

Transaero airline cancels 76 flights for 16 October, Aeroflot press service said Thursday. "All other Transaero flights on October 16 are provisionally scheduled to fly as per timetable. If additional flights are cancelled, notification will be provided by the Transaero call center. Passengers on cancelled flights will be reassigned to flights operated by Aeroflot Group airlines under the SU code (except for code-sharing flights in the range 3000-4999, which are operated by partner airlines),"the company’s press service said. Transaero airline cancels flights to Berlin, Istanbul, Riga, Murmansk, Sochi and other cities.

The bankruptcy of the Transaero airline was the only possible way to solve the issue with the company, Russia’s Economic Development Minister Alexey Ulyukayev said Friday it the International Investment Forum Sochi 2015. "The search for other options has not led to positive results, we believe that this was the only option,

Russian airline Transaero’s debt to the country’s largest state-owned lender Sberbank stands at six billion rubles (over $91 million), a source close to the bank told TASS. "Transaero’s debt to Sberbank stands at six billion rubles," the source said. "But the debt does not include capital leasing arrears." The source earlier told TASS that Sberbank was ready to initiate bankruptcy of Transaero airline. "We are ready for initiating bankruptcy," the source said. "The bank is not accustomed to losing money for nothing.".

The decision of the Russian Government on Transaero’s bankruptcy will create problems for VEB Leasing as one of major lessors of the airline, a source in the aviation industry told TASS on Thursday. "The decision of the government will create problems with VEB Leasing as one of major Transaero’s lessors," the source in the aviation industry said. "Certain complications" arise for VEB Leasing in such a situation, a source in the banking sector said.