British Airways May Create Airline With Soviets:...

British Airways May Create Airline With Soviets: The London-based carrier said it has signed an agreement with the Soviet Union’s Ministry of Civil Aviation to work toward creating a new international airline based in Moscow. The proposed airline, dubbed “Air Russia,” would be a joint venture, with the Soviet state airline Aeroflot holding a majority stake. British Airways said it would spend about $39.4 million for its minority stake. If a final agreement is reached, the airline would begin operations in 1992 between Moscow and cities in Western Europe, North America and the Far East.