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VTB lends to TRANSAERO air company

25 February 2010

Within the framework of supporting national aviation industry VTB has provided to TRANSAERO Air Company with three loans worth RUB 750 mln for a 1.5-year period. Part of the amount is extended to the company under the RF Government program aimed at supporting the largest air carriers of the country.

The funds will be used to promote and finance the current activity of the company.

VTB and TRANSAERO have been actively developing partnership relations for three years. According to Valery Lukyanenko, Member of VTB Management Board, cooperation with air transport companies is among priority lines of VTB business development. Total volume of risks assumed by the Bank to conduct operations with enterprises of this industry exceeds RUB 19 bln.

For reference:
TRANSAERO air company has been operating since 1991 and is the second largest national air company. TRANSAERO is ranked seventh in the world by air services in tourist routes and has the largest fleet of long-haul vessels in Russia. The company’s fleet consists of 47 planes, including 11 Boeings 747, 3 Boeings 777, 11 Boeings 767, 19 Boeings 737 and 3 Tu-214 planes. Its route network covers about 80 directions in Russia, Europe, Asia, America and Africa. International flights account for about 75% of the tourist routes. In 2009, TRANSAERO’s passenger turnover increased by 6.7%.

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