Aeroflot to buy Transaero in Russian market shake-up

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Aeroflot and Transaero are to merge after the national carrier’s board voted to buy 75% plus one share of the country’s second carrier. Transaero has debts amounting to some $990m, so Aeroflot is expected to pay just one ruble for the stake. It will likely give the combined carrier a 50% share of the domestic passenger market. Transaero said in a statement it had been hit by a “perfect storm” of the ruble’s devaluation, and high payouts on foreign currency ...