Aeroflot signs up for Sochi games

The firm is introducing more flights to Sochi as part of the deal

Russian airline Aeroflot has signed up as a domestic sponsor for the 2014 Winter Olympics to be held in Sochi.

The Russian flag-carrier confirmed the value of the deal was worth more than $100m (£60m).

It joins telecommunication firms Rostelecom and Megafon, oil and gas company Rosneft, and lender Sberbank as the fifth top-tier backer of the games.

Aeroflot said it now intended to introduce a series of new flights to the Russian Black Sea resort of Sochi.

'Value of brand'

The deal was signed by Aeroflot's director general, Vitaly Savelyev, and Sochi 2014 president and chief executive Dmitry Chernyshenko at the Moscow International Air and Space Show.

Mr Savelyev said backing the games would allow Aeroflot will "to raise its profile in the aviation market" and "enhance the value of the brand".

The games organisers so far have raised more than $650m from sponsorship this year, despite the global economic downturn.

Top-tier sponsorship categories that have still to be filled are in the insurance and gas categories.