17 Nov 2015 17:40

Sberbank not willing to assume airline risks without state guarantees - Gref

MOSCOW. Nov 17 (Interfax) - Sberbank of Russia is not willing to assume any additional risks for airlines without state guarantees, CEO German Gref told journalists on Tuesday after a meeting of the supervisory board.

"If there are state guarantees, then probably such things can be examined. No problems. But if this would involve someone having to shoulder losses, then, as you understand, we cannot be an organization that assumes losses connected with the activity of any agents," Gref said.

In addition, he said, "these are not the best years" for the banking sector.

"This is normal commercial activity. If someone cannot pay or cannot fly, that means they should be bankrupted, and others that can fly will take their place," he said.