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HeliTorque :: View topic - Russian operator UTair gets funding for Eurocopter purchase
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HeliTorque Forum Index » Offshore, Onshore & Utility

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Russian operator UTair gets funding for Eurocopter purchase
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PostPosted: Sun Aug 12, 2012 12:37 pm    Post subject: Russian operator UTair gets funding for Eurocopter purchase Reply with quote

Russian operator UTair has attracted financing from the UK division of HSBC to fund the operator's$45 million purchase of Eurocopter AS350/AS355 light helicopters it has emerged.


In the first example of a Russian operator receiving such insurance for purchasing helicopters from an international export agency, the funding, based on security from French insurance agency COFACE, will fund 19 of the helicopters.

UTair already operates five of the machines and a further four will be delivered by the end of the year. Ten will be delivered in 2013.

Registration of this rotorcraft was performed in the Russian Register of Civil Aircraft. Earlier export agencies participated only in the deals on purchasing fixed-wing aircraft.

First deputy general director and financial director of UTair Aviation Igor Petrov said that the deal is a milestone. 'The fact that UTair has become the first airline in Russia to perform purchase of helicopters with the involvement of an international export credit agency demonstrates high level of trust from the investment community, Petrov said.

The financing will be provided for a term of seven years.
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