Tinkov to Create Airline

Mar. 07 2013 — 00:00

Russian businessman Oleg Tinkov plans to set up an airline, he said on Facebook.

"Why don't I launch Tinkoff Airlines?" he wrote, adding that he was unhappy with Aeroflot, Transaero and S7. "We'll turn the market upside down. I invite you to our presentation on April 12, the Space Exploration Day!"

This is a good time for entering the aviation market because it grows 16 percent annually on average, said Andrei Shenk, an analyst at Investcafe. But big investments are necessary for creating an airline, and Tinkoff might have to sell some of his assets, Shenk added.

Tinkov, rated by Forbes as one of the most eccentric businessmen in Russia, controls Tinkoff Credit Systems and previously controlled brewer Tinkoff.

(MT)

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