OREANDA-NEWS. A regular meeting of the UTair Aviation Supervisory Board took place.

The Supervisory Board brought up the appointment of Ernst & Young as the company auditor for vote at the Special General Meeting of Shareholders. The auditor is to be responsible for examining the company's financial and operational activities in 2013 in compliance with the IFRS.

Under the UTair Group corporate structure optimization process, the Supervisory Board approved the sale of 100% of the shares in UTair CJSC owned by the UTair Aviation to its subsidiary UTair-Leasing.

The Supervisory Board also introduced for approval at the Special General Meeting of Shareholders a major transaction comprising a number of related deals for financing the purchase of 10 Boeing 737-800/900 aircraft under a current contract for the delivery of 40 aircraft of this type singed in 2011.

PK AirFinance, belonging to General Electric Capital Aviation Services (GECAS) group, was chosen to finance the project.

UTair Group consists of a range of companies performing air transport operations, maintenance and repair of aircraft and rotorcraft, training of flight personnel, flight services and sales. UTair Aviation is the core enterprise of UTair Group, consisting of UTair Aviation, UTair Express, UTair-Ukraine, UTair CJSC, UTair-Helicopter services, Turuhan Airlines, Vostok Airlines, Katekavia, Helisur, UTair Europe, UTair South Africa, UTair India, UTair-Technik, UTair Engineering, Ural aviation services, UTair-TG, UTair-Armenia and other enterprises. UTair Group headquarters are located in Surgut, with subsidiaries in Surgut, Tyumen, Khanty-Mansiisk, Moscow and other cities of Russia and throughout the world.