newstodate.aero
Jan 17, 2006 (newstodate): At its meeting on January 10, the Board of EBRD agreed on the project for financing the acquisition of aircraft for the Russian airline VIM-Avia.
The package contains financing of the acquisition of 12 ex-Thomas Cook Boeing 757-200 aircraft, already now operated by the Russian carrier.
-It is line with EBRD policies to support the development of privately-owned airlines in Russia that meet western criteria of ecomomics, safety and management, says Florence Bachela, EBRD, responsible for operations in Russia.
-We recognise the entrepreneurship of VIM-Avia, and by supporting an airline like this we make an impact on the progress of competition and quality in Russian civil aviation. Any Russian airline with a similar spirit would be welcome to apply for support from EBRD, she says.
Following on the EBRD Board's decision, the parties will now finalise the loan documents to complete the transaction comprising a USD92 million asset backed senior secured loan.
Total project cost is USD162 million.
The package contains financing of the acquisition of 12 ex-Thomas Cook Boeing 757-200 aircraft, already now operated by the Russian carrier.
-It is line with EBRD policies to support the development of privately-owned airlines in Russia that meet western criteria of ecomomics, safety and management, says Florence Bachela, EBRD, responsible for operations in Russia.
-We recognise the entrepreneurship of VIM-Avia, and by supporting an airline like this we make an impact on the progress of competition and quality in Russian civil aviation. Any Russian airline with a similar spirit would be welcome to apply for support from EBRD, she says.
Following on the EBRD Board's decision, the parties will now finalise the loan documents to complete the transaction comprising a USD92 million asset backed senior secured loan.
Total project cost is USD162 million.