OREANDA-NEWS. February 25, 2013. Sviaz-Bank has given a loan of 1,183,304,000 rubles to UTair Aviation OJSC and REGION Leasing CJSC (REGION Group of Companies). The borrowers will use the loan funds to purchase three Mi 8AMT helicopters.

“This deal has started off our cooperation with Sviaz-Bank. The favorable loan terms have enabled us to optimize significantly the expenses our company is incurring to modernize our aircraft fleet,” said Igor Petrov, UTair’s Chief Financial Officer.

The Mi-8AMT helicopters are operated under commercial contracts in European countries and provide logistical support for oil and gas operations in West and East Siberia. UTair Aviation has over 40 years of experience operating Mi family helicopters of all models in many regions of the world. The company has more than 330 helicopters, including Mi-26s, the world’s most powerful load-handling machines.

“We hope that Mi-8AMT helicopters the company is going to add to its helicopter fleet with funds borrowed from Sviaz-Bank will reinforce its standing in the world market for airborne services,” said Sergey Volokhov, Vice Chairman of Sviaz-Bank’s Management Board.

Sviaz-Bank supports Russian air companies in completing their projects to renovate their fleets of aerial vehicles by providing funds under leasing contracts, the business option in the highest demand on the aircraft market. Currently, Sviaz-Bank is considering the feasibility of deals to provide funds for investment loans and working capital of Russian air companies to promote development of Russian air transportation.