Russia's Federal Antimonopoly Service (FAS) has given its consent to the Ilyushin Finance Co. (IFC) to take control of the entire share capital of Red Wings Airlines (WZ, Moscow Domodedovo) through its wholly-owned Airline Asset Management unit.
The IFC has slowly increased its overall stake in the carrier as part of a debt-to-equity conversion scheme. Prior to this announcement, IFC's shareholding in Red Wings had stood at 74%.
Red Wings operates ten Tu-204-100s (all leased from IFC) and four Tu-214s (all inactive) on regular passenger flights connecting Moscow Domodedovo, Kazan International, Kaliningrad, Krasnodar, Makhachkala, Mineralnye Vody, Pardubice (Czechia), St. Petersburg, Simferopol, Sochi, Chelyabinsk Balandino, and Ufa.
