Russian flag carrier Aeroflot plans to launch a low-cost airline in 2014, according to Russian media reports.
Aeroflot, the national airline of the Soviet Union and currently the largest airline in Russia, will invest about $100 million in the new venture over the next 2 years and will operate it through a subsidiary company.
The new airline is scheduled to commence operations with domestic Russian flights in March 2014. It may also expand to popular destinations such as Barcelona, Istanbul, Kiev and Yerevan (Armenia) in the future.
According to reports in The Guardian, Aeroflot, which celebrated its 90th anniversary in Summer 2013, has been trying to revamp its image through new marketing and promotional initiatives.