UTair Aviation Signs Agreement with VEB-leasing for Delivery of Airbus Aircraft
UTair Aviation and VEB-leasing signed a financing deal for the delivery of 20 Airbus A320 aircraft at the Farnborough Airshow in June 2012 and on October 5, 2012, VEB-leasing made the first advance payment to Airbus Group for the delivery.
- (1888PressRelease) November 03, 2012 - The list price for the supply of 20 aircraft is more than $2.3 billion.
The participation of VEB-leasing at this stage of the order will allow UTair to bring the new aircraft into its fleet in accordance with a previously approved schedule - with the delivery of the first two planes in the 2nd quarter of 2013. Deliveries are expected to be completed in November 2015.
"This type of agreement for financing is a first in the Russian aviation industry," remarkedUTair Aviation Deputy General Director and CFO Igor Petrov. "We're confident that the positive experience working with VEB-leasing will be reflected in future investment projects of UTair Group."
Active cooperation between UTair and VEB-leasing begin in 2009 when the airline received delivery of four new Mil Mi-171 helicopters. In total VEB-leasing assisted the airline with more than $260 million for the delivery of 17 Mi-8AMT/Mi-171 rotorcraft and 7 Boeing 737-500/800 aircraft.
UTair Aviation ranks among the top three Russian airlines. In 2011 UTair aircraft transported 6,750,425 passengers. In the period from January-August 2012 UTair Group serviced 34,5% more passengers than for the same period of 2011. In 2012 the airline expects an increased transport volume of up to 10 million passengers. The airline operates more than 200 fixed wing aircraft and performs flights to 110 destinations in Russia and aboard. The airline maintains its central hub at Vnukovo International Airport in Moscow, from which it performs 100 flights daily.
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