Russia flag carrier Aeroflot is eligible for up to $106.8 million in state aid as part of a package according to calculations from Reuters.
In the document published on Wednesday, Russia issued an order to distribute 23.4 billion roubles of state funds to airlines suffering losses due to COVID 19.
Aeroflot Group, which includes Russian flag carrier Aeroflot as well as Rossiya, Aurora and low-cost airline Pobeda, is 51.2% state-owned and has a Russian market share of almost 50% based on 2019 data.
According to conditions outlined in the document, though, it can only claim one third of the grants on offer. Other major airlines, including S7 Group, UTair and Ural Airlines will be entitled to the remaining 15 billion roubles.
The government decree mentions a “group of companies” that can claim no more than 33.7% of the total subsidies. One of the group’s airlines must be at least 50% state-owned, while the group’s passenger traffic in 2019 must have exceeded 20 million people.