AEROFLOT AND VEB-LEASING SIGN FINANCIAL LEASING AGREEMENT FOR 10 SSJ100 AIRCRAFTS All news

Today, CEO of Aeroflot Russian Airlines JSC Vitaly Savelyev and CEO of JSC VEB-Leasing Vyacheslav Solovyov have signed a financial leasing agreement for the first 10 Sukhoi Superjet 100 aircrafts to be leased by the carrier for a term of 12 years, with the right to return them after the term expiration. The transaction will be financed through loans by Vnesheconombank granted to VEB-Leasing.

The transaction is part of realization of the main provisions of the framework contract for delivery of 30 SSJ100 aircrafts, which specifies that the aircraft delivery financing be arranged through leasing mechanisms and with the Russian financial institutions participating.

Aeroflot CEO Vitaly Savelyev says: “The participation of a major financial institution such as Vnesheconombank guarantees that Aeroflot will be able to meet the obligations under the contract, and serves a confirmation of the state’s policy of the national aircraft industry.”

JSC VEB-Leasing is a leasing subsidiary of Vnesheconombank. As of 2008 the company’s capital according to IFRS was 2202 million RUB, net profits according to IFRS were 499.6 million RUB. The company has been given BBB long-term foreign and local currency Issuer Default Ratings (IDR) with a negative outlook(Fitch Ratings).