OREANDA-NEWS. July 18, 2012. UTair Aviation has attracted long-term funding guaranteed by US based Export-Import Bank. The deal will allow UTair to undertake the acquisition of four medium-haul Next-Generation Boeing 737-800 aircraft in the advanced Sky Interior configuration through international leasing. The US firm Private Export Funding Corporation (PEFCO) acted as underwriter. The loan of more than USD 140 million has a period of 10 years. Aircraft delivery was completed in form May-August 2011. With the acquisition on the new planes, UTair became the first operator of Boeing aircraft with the Sky Interior modification in Russia and Eastern Europe.

According to terms of the deal the Russian bank Sberbank provided bridge financing to the airline which is now fully repaid by the funds received from PEFCO under the guarantee of Ex-Im Bank.

First Deputy General Director and Chief Financial Officer of UTair Igor Petrov noted that support of the transaction by large US financial institutions and Sberbank was an indication of the  high level of investor confidence in UTair. "This transaction represents an important step onto the global financial market and we hope to expand our cooperation with leading international and Russian organizations," Petrov said.

Cooperation with Ex-Im Bank began in 2009 with financing for the acquisition and operation of seven Boeing 737-500 aircraft which still form a part of UTair fleet today.

UTair also made a series of transactions with Sberbank. In particular, several agreements for investment finance with the support of Sberbank Leasing, a subsidiary of the bank, we completed.