Russian businessman Roman Abramovich, the owner of Chelsea
football club and the governor of Chukotka province, plans to buy a
controlling stake in a private all-cargo Italian airline Ocean
Airlines for approximately 300 million euro, according to a source
close to the negotiation.
After RIA Novosti, a state-owned Russian news agency, reported the
story, Mr. Abramovich's spokesperson denied the existence of
negotiations between the Russian businessman and Ocean Airlines.
However, aviation industry experts explain that it is only logical for
Mr. Abramovich and his company to try to avoid publicity before the
deal is closed. They add that the timing for purchasing the all-cargo
airline is right - the international cargo business between Europe and
Asia is growing at a robust pace.
Ocean Airlines, established in 2003, is an all-cargo airline whose
headquarters are in the Brescia Montichiari Airport (Italy). The
airline's fleet is composed of Boeing 747 all-cargo aircrafts. It
mostly provides cargo services to destinations in Asia and Europe.
Ocean Airlines is said to be planning an IPO in the UK, Mr.
Abramovich's current home country.
Millhouse Capital, an investment firm controlled by Roman
Abramovich, holds stakes in many businesses in Russia and around the
world, but does not yet have any interest in the transportation
industry. However, Mr. Abramovich is not a novice in the industry: he
owns a private Boeing 767 jet called "The Bandit" and, according to
The Times, is buying the new A380, the largest passenger aircraft in
the world. When used by commercial airlines, the A380 is capable of
accomodating up to 800 economy-class passengers.
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