OREANDA-NEWS. VTB bank has opened to Transaero Airlines 9 billion roubles loan for 3 years secured by state guarantee. The loan is to be used to finance the airline's operations.

The airline and VTB have been successfully developing their cooperation over eight years. In addition to credit financing, the airline actively uses the bank's certificated securities.

Olga Pleshakova, CEO Transaero Airlines, said: "Transaero Airlines and VTB Bank have been reliable partners over the years of their cooperation. Thanks to VTB funding, the airline will continue to implement the comprehensive programme aimed at optimizing its operations and enhancing operational efficiency. Transaero's New Year holiday flight programme has set new records in the airline's history as the airline carried 540,000 passengers during the holiday season. There is a demand for the airline's product on the market. Assisted by VTB Bank funding, the airline will continue to provide safe, reliable and affordable air services for millions of our passengers. "

First Deputy President and Chairman of the VTB Bank Management Board Yuri Soloviev said: "Supporting the national civil aviation industry is a vital element of Russia's economic development. Moreover, VTB Bank has consistently focused on working with the real sector. I am confident that we will continue our mutually beneficial cooperation."