Utair has not requested state guarantees for new restructuring, has no current debts - Neradko
YEKATERINBURG. Dec 10 (Interfax) - Russian airline Utair has not requested state guarantees for a new restructuring of its loan portfolio, Federal Air Transport Agency (Rosaviatsia) chief Alexander Neradko told reporters on Monday.
"No, they have not requested state guarantees recently or state support measures," he said.
At the same, Rosaviatsia is closely monitoring the situation with the airline.
"We know its loan portfolio; it is substantial. But we also know that the company is carrying out its day-to-day operation in accordance with all rules. The airline has no current arrears in terms of wages, types of servicing at airports, in terms of fuel or air navigation services," Neradko said.
In 2015, Utair, which was then on the verge of bankruptcy, was rescued by a syndicate of banks which agreed to refinance the airline's multibillion ruble debts. The deal was restructured in the form of two syndicated loans of an overall 42.6 billion rubles with 11 banks participating and Sberbank acting as the facility agent, as well as two bonded loans of an overall 13.3 billion rubles.
Last week, Utair reported that it had begun a new restructuring of its debts "amid increased aviation fuel prices and unstable forex exchange rates." "Economic factors necessitate a review of existing payment schedules," the airline said in a statement. The restructuring consultant is Raiffeisenbank. No other details were reported.
"Despite the fact that the development possibilities for the company today are perhaps not very expansive, Utair is nevertheless operating in stable fashion, and making all payments. I am confident that it will provide for all the payments to banks planned for this year," Transport Minister Yevgeny Ditrikh said.