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VTB Group enhances cooperation with the Volga-Dnepr Group of Companies

24 August 2007

VTB Bank and VTB-Europe acted as arrangers of financing the Volga-Dnepr Group of Companies. Total volume of the credit line extended against the pledge of An-124-100 Ruslan Aircraft as documentary and direct financing amounted to USD 80 million.

The funds received were channeled by the Volga-Dnepr Group of Companies into implementing a number of investment projects and also into purchasing the Volga-Dnepr air company shares from minority shareholders by the Group management.

"The deal will launch a long-term and mutually advantageous cooperation between VTB Group and the Volga-Dnepr Group of Companies both in Russian and international projects including air fleet renovation, modernization of air-technical services, and also in some other shares" - said Valeriy Lukyanenko, VTB Senior Vice President during the negotiations with the Volga-Dnepr Group of Companies directors held within the framework of International Aviation & Space Salon MAKS 2007.

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

For reference:
The establishment and organizational structuring of the Volga-Dnepr Group of Companies started in 2001. Today the Volga-Dnepr Group of Companies is a customer-oriented company, with dynamic growth rates and high-level professionalism, with a worldwide network of offices and subsidiaries. At 2006 year-end, sales volume of the company amounted to USD 725 million that is 1.5 times higher than in the previous year. Total volume of air services increased threefold, and tonnage of cargos increased 50%. The company share in the international market of unique transportations at the last year end, amounted to 52.4%. Airline fleet consists of 10 of Аn-124-100 Ruslan, 6 of Il-76 (including 1 Il-76TD-90VD), 4 of Boeing 747-200Fs/300, and 6 of Yak-40.

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