Russia to roll out 'Victory' budget airline

MOSCOW (Reuters) - Russia's national carrier Aeroflot will name its new low-cost airline Pobeda, or Victory, a symbol of defiance against Western sanctions over Ukraine that grounded the budget brand's predecessor.

Aeroflot's previous attempt at a low-cost airline, Dobrolyot (Good Flight), suspended operations in August, just two months after its maiden flight. Its lease agreement for Boeing aircraft was cancelled under European Union sanctions because it flies to Crimea, which Russia annexed from Ukraine in March.