Aeroflot (SU, Moscow Sheremetyevo) has said it will buy back around 47 million shares, or 4.2% of its total capital, from shareholders who oppose a plan to lease fifty MC-21-300s from Avia Capital Services.

The Russian flag carrier said in a MICEX announcement it will spend up to RUB7 billion rubles (USD105 million) on the repurchase.

Aeroflot expects to take delivery of the first of the fifty Russian-made narrowbodies from Irkut (Irkutsk Northwest) during the first quarter of 2020 with the remainder due through 2026. The acquisition secured the approval of the majority of its shareholders in late June 2018.

Aeroflot is the MC-21's largest airline customer thus far.

The airline is currently majority owned by the Russian state, which directly holds a 51.2% stake. State-owned industrial conglomerate Rostec controls a further 3.5% with management owning 0.1%. The remaining shares are free floated on the Moscow Stock Exchange (MICEX).