Russian authorities are discussing the possibility of privatizing…
Russian authorities are discussing the possibility of privatizing the developer and operator of the airline ticket booking system 'Leonardo' — the 'Sirena-Travel' group of companies.
Consensus
- The company 'Sirena-Travel' was nationalized in February 2026 by a decision of the Nikulinsky Court in Moscow.
- The nationalization was based on a lawsuit filed by the Russian Prosecutor General's Office.
- The company operates the 'Leonardo' system, which handles 80–90% of air ticket bookings in Russia.
- The 'Leonardo' system is used by major Russian airlines including 'Aeroflot', Utair, and Belarusian 'Belavia'.
- Auction for privatization is expected no earlier than January 2027.
- The state intends to retain 25% of the company, with 75% offered to strategic investors.
- Potential bidders include 'Rostec', 'Aeroflot', and ORS, a competitor with a smaller market share.
- The company's assets include hotels, cottages, and land plots in Moscow, St. Petersburg, and the Moscow region.
Points of divergence
- The preliminary valuation of the company is 35 billion rubles. — thebell
- The 'Leonardo' system's integrator is 'RT-Transcom', an affiliate of 'Rostec'. — thebell
- The potential buyers are discussing acquiring the company without its ancillary assets, such as hotels and real estate. — fontanka
- The Transport Clearing House (TCH) may be of interest to major banks. — fontanka
- The company's hotel assets include the Valo apartment hotel chain and the Novotel complex in St. Petersburg. — fontanka
- The original plan was to sell the company before autumn 2026, but the auction was postponed due to the complexity of asset auditing. — thebell
- The Prosecutor General's Office alleges that the company was created through the illegal appropriation of state assets from the 'Main Agency for Civil Aviation Communications' and that the plan to seize it was developed in 1998 by Rifat Shaykhutdinov, Ibrahim Sulaymanov, and Tat'evos Surinov. — fontanka
- The company was created by Rifat Shaykhutdinov on the basis of assets from the 'Main Agency for Civil Aviation' during the late 1990s and early 2000s. — thebell
Coverage (2 sources)
- Monopolist airline booking company 'Sirena-Travel' is being prepared for privatization — The Bell
- Russian authorities discuss privatization of Leonardo airline ticket booking system operator — Фонтанка