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VTB will cooperate with JSC Dalavia

26 September 2007

Within the framework of VTB management visit to Komsomolsk-on-Amur the signing of a Cooperation Agreement between the Bank and JSC Dalavia took place. 

For VTB the Agreement was signed by Andrey Kostin, VTB Chairman and CEO, for Dalavia - by Valery Chichilimov, General Director.

The Agreement is designed to launch and enhance a long-term and mutually rewarding partnership. It also stipulates VTB Group participation in complex banking servicing to Dalavia and financing the current and further projects of the company, including those with funds to be raised from foreign financial institutions. Under the Agreement, Dalavia will consider VTB Group as a priority partner in arranging investment projects and in implementing corporate control deals. 

According to the agreements achieved between the Bank and the air company, the parties intend to consider an opportunity to jointly implement the program of renovation and modernization of Dalavia air fleet and purchasing Russian Regional Jet (RRJ) from CJSC Sukhoi Civil Aircraft.

On 26 September 2007, VTB delegation together with the management of the United Aircraft Corporation, Sukhoi holding and JSC KnAAPO took part in the events devoted to the first presentation of Sukhoj SuperJet-100 (SSJ-100).

Cooperation with air carriers is a priority task for VTB. Total volume of credit risks taken by VTB over the past two years for operations with air carriers has exceeded USD 400 million.

For reference:
JSC Dalavia makes carriage of passengers, transportation of goods and luggage by interregional, international and local airlines operating both scheduled and charter flights. It also makes airport ground service to such aircrafts as Boeing -747, Il-96-300, Il-62, TU-214 and to lower class aircrafts. The company operates international flights to Japan, South Korea, Chinese People's Republic and Israel; and also flights within Russia to Okha, Shakhtersk, Zonalnoye, Blagoveschensk and Sovetskaya Gavan.  
JSC KnAAPO is the largest producer of the "SU"-family aircraft, and the leading manufacture in the Sukhoi Company. It produces Su-27, Su-30, Su-33 and Su-35 fighters and their modifications. It also participates in the RRJ, Su-80, Be-103 and Sa-20P civil programs.


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