VTB has already fully formed the reserves of the company “Transaero”, and the company’s debt will not affect the business of VTB Leasing next year, said the press service of the Bank.
MOSCOW, Dec 14. VTB Leasing, a subsidiary of VTB Bank, have agreed with “Aeroflot” and one other market participant on the implementation of 11 aircraft, transferred to the leasing on the verge of bankruptcy of airline “Transaero” reported in a press-service of the second Russian Bank assets.
“Today the company VTB Leasing the agreement on implementation of 11 aircraft company “Aeroflot” and one more participant of the market”, — said the press service of VTB. In November, the head of VTB Andrey Kostin reported that the group plans to transfer “to Aeroflot” in leasing 10 aircraft and another 11 will be sold in Russia or abroad.
Kostin also reported in October that are on the verge of bankruptcy airline two months did not pay VTB leasing aircraft. Leasing debt “Transaero” in front of “VTB Leasing” is 40 billion rubles ─ the airline operated at that time, 21 plane group. Financial debt of “Transaero” before VTB is 12 billion rubles, of which 9 billion rubles ─ under the state guarantees.
“VTB has already fully formed the reserves of the company “Transaero”, and the company’s debt will not affect the business of VTB Leasing next year”, — said the press service of the Bank.
Deputy Chairman financial Director VTB Herbert Moos on November 17 reported that the reserves standing on the threshold of bankruptcy of airline “Transaero” in the third quarter amounted to 16.4 billion rubles, including provisions on leasing debt. Then he said that the Bank depending on changes in the situation for airlines may dissolve some reserves and to increase their. VTB, according to the IFRS financial statements for October, has formed reserves for another 18.4 billion rubles “for impairment of debt financial and other assets, credit related commitments and legal claims”.
Transaero airlines has been unable to service debts, which form together with the leasing obligations of about 250 billion rubles. The certificate of the operator Transaero withdrawn on 26 October.
