Under expansion of cooperation with CJSC Polet Airlines, VTB Bank has increased letter of credit limit for the company for the years 2010-2011 up to RUB 1.5 bn. The funds will be provided to support airworthiness of its aircrafts and to increase the aircraft park.
“We hope that extended current letter of credit limit will let the air company successfully implement business development projects and support its ongoing operations”, said Valery Lukyanenko, member of VTB Bank Management Board.
Polet Airlines has been the customer of VTB Bank branch in Voronezh since July 2000. It carries out ultra heavy and bulky cargo transportation on An-124-100 Ruslan and since late 2009 has started to introduce Il-960400T aircrafts produced in Voronezh into the cargo operations market. The company also offers regular passenger transport services through Voronezh International Airport.
According to the information received from the Federal Agency for Air Transport in January-February 2010, CJSC Polet Airlines is among the four largest Russian freight carriers.