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VTB lends to Orenburg Airlines

10 March 2009

Acting under its domestic aircraft industry support program, JSC VTB bank has provided FSUE Orenburg Airlines with a one-year loan of USD 8.5 million. The funds will be channeled into financing current activities of the company.

The credit facility opened by the Bank for FSUE Orenburg Airlines now amounts to RUB 821 million.

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:
FSUE Orenburg Airlines was founded in 1997 by the RF Ministry of Transportation. It is the 2nd largest air company in terms of domestic charter flights. Through 2008, FSUE Orenburg Airlines transported 1.1 million people, up 52 per cent as compared to 2007. The company is ranked 11th among Russian airline carriers in passenger transportation.

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