OREANDA-NEWS. August 2, 2012. UTair Aviation has attracted financing from British bank HSBC on a security of French insurance agency COFACE. The deal presupposes delivery of 19 new Eurocopter AS 350/355 helicopters. The airline already operates five helicopters of this type. By the end of 2012 UTair will operate another four helicopters, while in 2013 the airline will take delivery of 10 more helicopters.

UTair has become the first Russian airline, which received insurance wrap for purchasing helicopters from an international export agency. Registration of this rotorcraft was performed in the Russian Register of Civil Aircraft. Earlier export agencies participated only in the deals on purchasing planes.

First Deputy General Director and Financial Director of UTair Aviation Igor Petrov said that this deal is a milestone for the airline. “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”, Igor Petrov said. 

Financing for a term of 7 years was provided by the British bank HSBC. The contract is worth more than USD 45 million.