Russia’s flagship airline Aeroflot plans to float American Depositary Receipts representing its stock on the New York Stock Exchange, Aeroflot Deputy General Director for Finance and Investment Shamil Kurmashov said on Wednesday.

“We are going to place Level 1 ADRs with a proportion of 1 (ADR) to five (shares),” Kurmashov said.

Aeroflot wants to sell Level 1 ADRs in New York to acquaint American investors with the company. Statistics show that U.S. investors favor investment in the aviation business, he said.

The Aeroflot board of directors approved in late December a program for floating ADRs to the sum of 20 percent of the airline’s authorized capital.