Utair says services debt as planned, pays 1.8 bln rbl in 2018

MOSCOW, Jul 5 (PRIME) -- Russian airline Utair is servicing its debt as planned, and has paid 1.8 billion rubles of interest on loans, and bonds in 2018, including a more than 1.6 billion ruble payment made on June 20, the company said in a statement on Thursday.

Utair was previously in a financial turmoil, but restructured its 160 billion ruble debt at the end of 2015.

“The Utair group refinanced the bulk of debt in 2015 with two syndicated loans with participation of 11 banks totaling 42.6 billion rubles and maturing in seven and 12 years,”

the company said quoting CEO Andrei Martirosov as saying.

“Costs optimization, principles of lean production, and higher passenger transportation ensured a timely fulfilment of all financial obligations under leasing and credit agreements.”

(63.2267 rubles – U.S. $1)

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