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VTB continues lending to STC Russia

28 August 2009

Acting within the program aimed at supporting domestic aviation industry VTB Bank has made a RUB 700 million loan to FSUE STC Russia for a 12-month period. The funds were channeled into financing current activities of the company.

Earlier, under the credit facility of RUB 2.5 billion, VTB provided the company with RUB 1.8 billion.

“Cooperation with air transport enterprises is a priority line of VTB business. Today, total volume of credit risks taken by VTB for operations with air transport enterprises has exceeded RUB 19 billion”, said Valery Lukyanenko, member of VTB Management Board.  

For reference:

Federal State Unitary Enterprise “State Transport Company “Russia” is a leading air carrier in North-West region. The company was established according to Decree No.119 of the Russian President Decree as of 24 August 2004 by affiliating Pulkovo Airlines to STC Russia (Moscow). The company is the only one in the country to have two base airports, Pulkovo in St. Petersburg and Vnukovo in Moscow.
In terms of passengers’ traffic, STC Russia is among the leaders in this sphere and is the second appointed carrier for the Russian Federation on international air lines.   
Since June 2000, the company has been a full member of the International Air Transport Association (IATA), which evidences its high standing in the international air service market. Since 31 December 2001, the company has been a registered effective member of the international community of the Multilateral Interline Traffic Agreement (MITA). STC Russia cooperates under various commercial agreements with over 100 Russian and international airlines. Active interaction with partner companies enables the company to take its passengers almost anywhere in the world.
Today, the company offers flights to over 100 cities of the world and has 50 offices in Russia, as well as countries in and outside the former Soviet Union.

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