Got some spare cash? this Russian airline is up for sale

Picture: Nordavia

Picture: Nordavia

Metallurgical concern Norilsk Nickel, one of the World's largest producers of such metal, has put Nordavia on sale.

Nordavia, a small airline based in the Northern Russian city of Arkhangelsk, by the White Sea, used to known as Aeroflot Nord until the Russia's flag carrier sold it for $7M to Norilsk Nickel. It currently operates a fleet of 9 Boeing 737-500 and 4 Antonov An-24s and last year reported a loss of 436M. Rubles (around €10M or $13M).

Nordavia is not the only airline owned by Norilsk Nickel, as it also owns Nordstar, which operates mainly in Siberia and is also for sale, as the metallurgical group aims to exit the airline business completely.

According to a report on Kommersant, the reaction from other Russian airlines has been less than enthusiastic, so it is not clear at this stage who could be interested in taking control of the airline.