Sberbank to provide a loan of 250 million rubles to Azimuth airline - RUSSIAN AVIATION

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Sberbank to provide a loan of 250 million rubles to Azimuth airline

Russian Aviaton » Thursday May 17, 2018 23:44 MSK

© Yulia Kuzmina

Russia's Sberbank will provide additional financing to Azimuth in the amount of 250 million rubles (about $4 mln ), as well as a limit on bank guarantees in the amount of 980 million rubles (about $15,7 mln), - the press service of the South-Western bank of Sberbank informs. This writes by Kommersant daily.

The bank opened an additional credit line for 18 months. The funds will be used to purchase fuel, pay airport charges and other costs. The additional need for working capital is caused by an increase in the number of directions and flying hours, which will increase passenger traffic from 465,000 to 730,000 passengers this year.

"The airline plans to expand the aircraft fleet by 2022 to 16 aircraft Superjet 100 LR. This will increase profits and strengthen the company's position in the market, "- said the chairman of the South-Western Bank of Sberbank, Eugenia Titova.

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