MBO bid at Russian owned Shannon air firm Transaero

14th January, 2015

The Irish management at Transaero Engineering Ireland (TEI), owned by Russia’s second largest airline, are lining up a bid to buy the firm out of examinership.

Owned by troubled Russian airline Transaero, which required a €120 million Russian government bailout last year, the company fell victim to the current Russian economic crisis.

Michael McAteer of Grant Thornton was appointed as interim examiner to the Shannon-based subsidiary last week allowing time for the company...

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