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VTB lends to Transaero

28 March 2009

Striving to support domestic aviation industry, VTB Bank has made a USD 6.1 million loan to JSC Transaero Airlines for a one-year period.

The funds will be channeled into financing the current activities of the company. The loan was provided under a credit limit set by the Bank to Transaero earlier.

Partnership relations between VTB and the air company have been actively developing for two years.

Cooperation with aircraft companies is a priority task for VTB business. Total volume of credit risks assumed by the Bank for operations with enterprises of this industry has already exceeded RUB 19 billion.   

For reference:
Transaero air company was established in 1991. Nowadays, it is ranked second in Russian civil aviation in terms of passenger turnover, and third - by the number of passengers carried. It is also the largest air carrier for Russian tourists. Transaero has the biggest park of long haul planes in the Russian Federation. It consists of 43 planes: 13 Boeing 747, 2 Boeing 777, 11 Boeing 767, 15 Boeing 737 and 2 Tu-214. The company's route network comprises nearly 80 directions in Russia and in the countries of Europe, Asia, America and Africa, with international flights accounting for over 80% of Transaero passenger traffic.

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