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VTB lends to Polet Airlines

10 March 2009

Acting under its domestic aircraft industry support program, JSC VTB bank has provided Air Company POLET with loans to finance its current activities, continuing airworthiness and maintenance of aircrafts (including overhaul and upgrade of АN-124-100 Ruslan gliders and repair of aircraft engines). As of the current date, the funds totaling RUB 617.9 million have already been provided.

VTB has successfully been developing cooperation with Air Company POLET over the past four years. At the end of 2008, the Bank set a RUB 926 million documentary credit limit to the airline carrier.

Cooperation with aircraft industry enterprises is one of VTB's priorities. Today, the total credit risk assumed by the Bank in transactions with these enterprises exceeds RUB 19 billion.

For reference:
Air Company POLET has been active in air transportation market since 8 August 1988. The enterprise is engaged in: heavy, ultra-heavy and oversize cargo transportation; passenger transportation in Russia, the CIS and Europe; and VIP transportation.
Air Company POLET is one of the world's leaders in air cargo transportation. It holds the second place in transportation of bulky and oversize cargo. The company operates the unique AN-124 Ruslan heavy-duty transport aircraft, which can transport cargo to any country of the world. Air Company POLET has been the general transporter of the RF Federal Space Agency since 1999.
The company has been active in passenger transportation since 2003. Today it is the major air transporter in the Central Black Earth Region, providing over 90% of air transportation services in Voronezh, Tambov, Belgorod and Ulyanovsk.

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