VTB Bank expands cooperation with Ural Airlines
12-Feb-2009 |
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VTB Bank set a RUB1.2 million documentary credit limit to JSC Ural Airlines for a 3-year period. Now the Company can tap VTB opportunities to finance its current needs through a wide range of instruments applicable in the international banking practice, such as lending, standby letters of credit and bank guarantees.
Within the limit, VTB has already opened two credit lines to Ural Airlines totaling RUB 100 million. Besides, the Bank has offered the Company USD 2.6 million standby facilities to secure its obligations under the leasing agreement for Airbus А-320. Partnerships between the parties started in 2008 and presently the total volume of the Company’s outstanding obligation to VTB has approximated RUB 300 million.
(C) Centre for Asia Pacific Aviation. Date posted: 12-Feb-09
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VTB Bank expands cooperation with Ural Airlines 
