VTB Bank has loaned Transaero 9 billion roubles in a three-year deal backed by government guarantee. The air carrier will use the funds to finance its operations.
Transaero has been cooperating with VTB for over eight years, borrowing funds and using the bank’s certificated securities.
“Supporting the national civil aviation industry is a vital element of Russia’s economic development. Moreover, VTB Bank has consistently focused on working with the real sector. I am confident that we will continue our mutually beneficial cooperation,” said First Deputy President and Chairman of the VTB Bank Management Board Yuri Soloviev.
Transaero Airlines Director General Olga Pleshakova said: “Our company and VTB Bank have been reliable partners throughout this cooperation. We will now use the bank’s financial support to continue our comprehensive programme to optimise our operations and increase efficiency. Transaero’s New Year Holiday Flight Programme this year was the largest to date – carrying 540,000 passengers. Our company’s services enjoy demand on the a viation market. Thanks to the funds provided by VTB Bank, we will continue to offer reliable, comfortable and affordable flights to millions of passengers.”