VIM-Avia says leasing firms agree to leave planes in company

MOSCOW, Sep 29 (PRIME) -- Troubled Russian airline VIM-Avia agreed with leasing companies to leave all planes under operative control of the airline, a VIM-Avia representative told PRIME on Friday.

Over the past three days, managers of the air carrier met with owners of aircraft that are in the company under operating leasing. “It mainly includes foreign companies, like Citibank, Veling, MCAP. Negotiations were constructive. Leasing companies have demonstrated understanding in the situation of our company and expressed readiness to support it these hard times,” the representative said.

Leasing companies approved an anti-crisis plan of the airline and said it is realistic. “All aircraft remain under operative control of VIM-Avia despite some delays in leasing payments,” the representative said, adding that a moratorium on control of aircraft could have led to further worsening of financial condition of the company and could have made the process irreversible.

The airline has been delaying a large number of flights since mid-summer, and on Monday it admitted it had no money to continue its activities and it would have to stop charter flights. According to the statement by the government, VIM-Avia owes the suppliers about 1.3 billion rubles.

On Thursday, the government allocated 98 million rubles to the airline to help it pay for fuel and bring home the passengers.

(58.4255 rubles – U.S. $1)

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