OREANDA-NEWS. UTair Aviation and Sviaz-Bank have completed talks for a new refinancing agreement for the acquisition of nine Mi-8AMT helicopters with participation of REGION Leasing, part of REGION Group.

The previous deal, signed in early 2013, included an option for the purchase of three helicopters of the same type.

UTair Mi-8AMT helicopters are primarily deployed on commercial service contracts in European countries. They are also used to complete provision works for the oil and gas industry in Western and Eastern Siberia.

UTair Aviation has more than 40 years of experience in operating Mil helicopters of all types in different regions of the world. The UTair fleet includes more than 350 helicopters including the Mi-26, a workhorse helicopter with the highest load capacity for its class.

“UTair has considerable experience in operating different modifications of the Mi-8 in Russia and abroad,” commented UTair CFO Igor Petrov regarding the acquisition. “This deal and especially the cooperation with Sviaz-Bank will allow UTair to conduct progressive fleet renewal and expand the airline's presence on helicopter service market through with maximum optimization of expenses,”

“We hope that this new deal and additional long-term financing support from Sviaz-Bank will permit UTair expand its fleet and opportunities in rendering helicopter services” said Sviaz-Bank Executive Vice President Sergey Volokhov. “We are looking forward significant economic response from projects run by the airline in cooperation with REGION Group.”

The UTair Group includes airlines conducting passenger and cargo operations with fixed wing and rotor wing aircraft as well as enterprises offering MRO, personnel training, flight services and air transportation sales services. UTair Aviation is the Group's core enterprise and includes UTair-Express, UTair-Ukraine, UTair-Cargo, Turukhan, JSC Nefteyuganskiy, Vostok, Helisur, UTair Europe, UTair South Africa and UTair India as well as UTair-Technichs, UTair-Engineering and other enterprises. UTair Group headquarters are situated in Surgut. Subsidiaries are located in Surgut, Tyumen, Khanty-Mansyisk, Moscow and other cities in Russia and throughout the world.