S7 Co-Owner To Buy 51 Percent Of Transaero

A co-owner of Russia's S7 Airlines, Vladislav Filev, has signed an agreement to buy at least 51 percent of Transaero, a spokeswoman for S7 said.

Transaero, Russia's second-biggest airline, is laden with debt. Two of its main creditors, Sberbank and Alfa Bank, have filed bankruptcy cases against the airline after it lost out on a lifeline deal with Aeroflot.