Log in
Login
Password
Remember
Lost password
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Shares  >  MOSCOW INTERBANK CURRENCY EXCHANGE  >  Aviakompaniya UTair OAO    UTAR   RU0007661385

SummaryNewsCalendarCompanyFinancials 
News SummaryMost relevantAll newsSector news 

UTair Aviakompaniya OAO : UTair Receives Bank Guarantees From HSBC for Transporting

11/22/2012 | 08:33am US/Eastern
UTair Receives Bank Guarantees From HSBC for Transporting

HSBC Russia together with The Saudi British Bank (SABB, HSBC's bank in Saudi Arabia) has issued banking guarantees for UTair Aviation's transporting Hajj pilgrims from Ingushetia, which satisfy local legislation norms.

UTair transported about 1,700 pilgrims on Magas-Medina and Jeddah-Magas routes on October 9 - November 10, 2012 with comfortable Boeing 737-800 aircraft.   

First Deputy General Director and CFO of UTair Aviation Igor Petrov said: "HSBC is one of our strategic partners and we actively cooperate in realization of UTair fleet expansion. The deal on financing transportation for Hajj is unique and demonstrates the bank's flexibility in solving the most difficult questions of providing financial tools, including the ones, which satisfy Arabic countries' legislation norms".

Sergei Chetverikov, head of Commercial clients department at HSBC Russia, said: "The deal with UTair is an important top up for our project portfolio as it demonstrates our broad client services portfolio and the advantages our clients can take due to HSBC Group's global presence. Implementing this project we develop our successful cooperation with UTair, which we launched in July 2012 and our professionalism in servicing aviation industry clients.

In July 2012 HSBC provided financing worth 45 million dollars for the delivery of 19 brand new Eurocopter AS 350/355 helicopters. The deal was insured by the French agency COFACE.

UTair Aviationranks among the top three Russian airlines. In 2011 UTair aircraft transported 6,750,425 passengers. In the period from January-October 2012 UTair Group serviced 31.4% more passengers than for the same period of 2011. In 2012 the airline expects an increased transport volume of up to 10 million passengers. The airline operates more than 200 fixed wing aircraft and performs flights to 110 destinations in Russia and aboard. The airline maintains its central hub at Vnukovo International Airport in Moscow, from which it performs 100 flights daily.

distributed by
React to this article
Latest news on AVIAKOMPANIYA UTAIR OAO
08/27 AVIAKOMPANIYA UTAIR : New Booking Dashboard for Official UTair Website
08/25 AVIAKOMPANIYA UTAIR : UTair Introduces I Choose Comfort Service
08/19 AVIAKOMPANIYA UTAIR : UTair – Helicopter Services Completes Service Contra..
08/14 AVIAKOMPANIYA UTAIR : UTair Again Ranks Among Most Punctual Airlines
08/13 AVIAKOMPANIYA UTAIR : Nationwide MUZARTERY Roadshow Project Visits Chelyabinsk
08/12 AVIAKOMPANIYA UTAIR : UTair Raffles Off 30,000 STATUS Program Bonus Miles
08/05 AVIAKOMPANIYA UTAIR : UTair – Helicopter Services Signs Deal with Rosneft
08/05 AVIAKOMPANIYA UTAIR : UTair Transports Children to World Children’s Winner..
08/03 AVIAKOMPANIYA UTAIR : UTair Aviation Transports Participants of VII Internationa..
07/30 AVIAKOMPANIYA UTAIR : UTair Aviation Now a General Partner of MUZARTERY Roadshow
Advertisement
Income Statement Evolution
More Financials