Moscow. December 10. Banks-creditors of airline “Transaero” should at a discounted schedule to create reserves on the debt of the carrier of at least 10% of the debt, said two sources in the banks-creditors.
According to financiers, the schedule of preferential formation of reserves on Transaero received from the CBR implies that by 1 January 2016 will have to reserve 10% of the carrier’s debt, April 1 – 20%, July 1 – 50%, to October 1 – 100%.
As previously reported, the Chairman of the Central Bank of the Russian Federation Vasily Pozdyshev said that the regulator has allowed banks to form reserves on loans to the troubled airline up to 1 October, within the framework of a progressive scale, common to all the banks schedule.
Banks should assess the financial position of the company as bad, given the existence of a Declaration of its bankruptcy. A provision should be established without consideration of collateral.
Thus, according to Pozdyshev, more conservative current assessment of credit institutions the risk of losses on claims against the company cannot serve as a basis for the retrieval of already formed reserves.
VTB and Sberbank previously stated that fully formed a provision for the debts of the airline. The Deputy Chairman of VTB Herbert Moos in November said that the Bank in the third quarter of created reserves for “Transaero” in the amount of 16.4 billion rubles. Excluding leasing “Transaero” VTB needs about 12 billion rubles, which is 90% secured by a state guarantee. Leasing is the duty of the carrier to VTB was previously estimated at 40 billion rubles, however, VTB did not disclose the exact amount of total debt.
Sberbank, Transaero owes about 6 billion rubles, excluding leasing to 6 aircraft.
Transaero has gained about 250 billion rubles of debt and excess fleet in September was in the verge of bankruptcy, forcing the state to look for options to save her. It was assumed that the control in the company will be sold to Aeroflot for 1 ruble, but shareholders “Transaero” were not able to consolidate the required stake.
The largest Russian banks (VTB, Sberbank and Alfa-Bank) has already filed lawsuits on bankruptcy “Transaero”. Among other creditors of the airline are Absolut Bank, Moscow credit Bank, Novikombank, Moscow industrial Bank (the Ural Bank), the Bank “international financial club” (IFC), BFA Bank, MTS-Bank, as well as a number of leasing companies.