OREANDA-NEWS. August 29, 2013. Sviaz-Bank and UTair Aviation, OJSC, joined by REGION Leasing, CJSC (a member of the REGION Group of Companies), have entered into yet another transaction to refinance the purchase of nine Mi 8AMT helicopters.

The previous transaction effected early in this year gave UTair funds to purchase three helicopters of this type.

The company’s Mi-8AMT helicopters are operated under commercial contracts in European countries and fly logistic mission on the oil and gas fields in West and East Siberia. UTair Aviation has operated Mi family helicopters of all classes for over 40 years now in different regions of the planet. The company has a fleet of over 350 helicopters, including Mi-26s, the world’s biggest and most powerful machines.

“We hope that this latest transaction with Sviaz-Bank will enable UTair to expand its fleet of choppers and build up its potential to provide helicopter services from yet another source of long-term funding. We expect a substantial economic return on projects the carrier is implementing together with the Region Group of Companies,” said Sergey Volokhov, Vice Chairman of the Bank’s Management Board.

“UTair has considerable experience in operating a variety of Mi-8 helicopter modifications in Russia and elsewhere. This deal and our cooperation with Sviaz-Bank enable us to consistently upgrade our air fleet and expand our presence in the helicopter services market, and also to optimize the company’s expenses as much as possible,” said Igor Petrov, UTair Aviation’s Chief Financial Officer, upon the signing of the deal.