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VTB Bank and Russian Helicopters sign cooperation agreement

25 August 2015

VTB Bank and Russian Helicopters sign cooperation agreement.

VTB Bank and Russian Helicopters signed a cooperation agreement during the MAKS-2015 international aviation and space salon in Zhukovsky, outside Moscow. The document was signed by President and Chairman of VTB Bank Management Board Andrey Kostin and Russian Helicopters CEO Alexander Mikheev.

VTB agreed to participate in financing production initiatives at Russian Helicopters companies, and also to finance investment projects and M&A transactions. The bank will also provide consultancy and information support services in banking, investment, and finance to Russian Helicopters.

At the signing ceremony, both executives noted that the agreement will promote the continued development of commercial and military helicopter production in Russia, and that it will help the company continue to supply world-class aircraft for domestic needs and to its international partners.

Russian Helicopters (part of State Corporation Rostec) is one of the world’s leaders in the helicopter industry, and the only developer and manufacturer of helicopters in Russia. Established in 2007, the holding company is headquartered in Moscow. It includes five helicopter plants, two design centres, components production and maintenance facilities, aircraft repair plant and a service company that provides after-sales services in Russia and abroad. The company’s products are being purchased by the Ministry of Defence, the Ministry of the Interior, the Emergencies Ministry as well as other government agencies, several airlines such as Gazpromavia and UTair, and other major Russian and foreign companies. In 2014, the company’s IFRS income grew by 22.8% to RUB 169.8 billion, as the manufacturer delivered 271 helicopters.

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