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VTB boosts cooperation with Transaero Airlines

 
28 January 2015

VTB boosts cooperation with Transaero Airlines.

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.”

For reference:

Transaero Airlines made its first flights in 1991. It is the second largest air carrier in Russia, one of the 10 largest carriers by passenger traffic in Europe and one of the 35 largest air carriers in the world. The company has 103 airplanes and the largest pool of long-range wide-body aircraft in Russia, the CIS and Eastern Europe. It flies to about 260 destinations in Russia, Europe, Asia, the Americas and Africa. Transaero ranks among the top 20 safest airlines in the world according to the JACDEC safety ranking.

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