Aeroflot and Aerolineas Argentinas, the flag carriers and largest airlines in Russia and Argentina respectively, have signed a code-sharing agreement. The agreement between the two airlines, both members of the SkyTeam global alliance, will strengthen the carriers’ positions in both markets and provide customers with greater convenience and flexibility in their travel.

Manchester United has announced a five-year partnership with Aeroflot, with the Moscow-based international airline to become the club’s Official Carrier. This partnership marks the club’s first commercial venture in Russia - an expanding market it is keen to explore further and where it has close to 18 million followers.

An Aeroflot flight from New York to Moscow has been forced to make an emergency landing in Reykjavik after a bomb threat. The Russian plane was forced to land after air traffic controllers in Moscow received an anonymous call saying a bomb was on board the flight.

Russian authorities are to ground unsafe airlines as the country mourns the latest in a series of deadly accidents. Following the deaths of 43 people from the Lokomotiv ice hockey squad in an air disaster earlier this week, president Dmitry Medvedev ordered officials to “discontinue the operations of air carriers incapable of ensuring flight safety”.

American aircraft manufacturer Boeing has signed a deal worth £2.4 billion to provide state-owned Russia Technologies with 50 737 aircraft. The deal is the latest in a string of orders for Boeing, which has also confirmed it will increase production of the 737 to 38 airplanes per month from early 2013.

Russia’s troubled aviation market is poised for a radical overhaul after the government approved plans to merge six state-owned airlines into its flagship carrier Aeroflot. The green light from Prime Minister Vladimir Putin will boost Aeroflot’s share of the domestic market from 15 per cent to up to 35 per cent.