UTair raises $45 mln loan for acquiring Eurocopter helicopters
MOSCOW. July 25 (Interfax) - OJSC UTair Airlines has raised over $45 million in financing from British bank HSBC for the acquisition of Eurocopter AS-350/355 helicopters, the carrier said in a statement.
The financing is open for seven years. French insurance agency COFACE has provided a guarantee on the transaction. The transaction foresees the delivery of 19 new Eurocopter helicopters.
The airline already operates five Eurocopter AS-350/355s. UTair plans to start flying on an additional Eurocopter AS-350/355s by the end of 2012. An additional ten units will be received in 2013.
UTair was the first Russian airline to receive insurance coverage from an international export agency for the acquisition of helicopters, which are being registered in Russia's register for civil aircraft. "Export agencies earlier took part only in airliner acquisitions," the airline said in a statement.
UTair Airlines is one of the largest air carriers in Russia. Its primary shareholder is the Non-State Pension Fund Surgutneftegas, with a 55.68% stake. The company flew 6.7 million passengers in 2011. Passenger turnover came to over 11.1 billion passenger kilometers. UTair flies regular and charter flights to over 30 countries, as well as 61 Russian destinations.
UTair Group's fleet includes over 200 airliners and over 340 helicopters.