Aeroflot intends to attract a credit line for 46 billion rubles

AK&M 26 November 2021 19:56

The Board of Directors of Aeroflot approved the opening of a non-revolving credit line in Sberbank for 46 billion rubles with collateral in the form of a state guarantee of the Russian Federation. This is evidenced by the materials of Aeroflot.

The period of validity of the credit line limit: up to 12 months. The start date of the line availability period is not earlier than January 1, 2022. The date of full repayment of the loan: up to 60 months from the date of conclusion of the contract. Repayment of the principal debt will be made monthly in equal installments, starting from the 37th month of the contract.

Aeroflot Group of Companies is the largest holding company in Russia, which includes a number of subsidiaries: Donavia JSC, Rossiya Airlines JSC, Orenburg Airlines JSC (Orenair), Aurora Airlines JSC (United Far Eastern Airline, made its first flight in November 2013), as well as Pobeda Airlines LLC, which carries out low-cost air transportation. 

PJSC Aeroflot - Russian Airlines (TIN 7712040126) is the largest Russian air carrier.

Aeroflot's net loss under RAS for the first half of 2021 amounted to RUB 26.3 billion against a loss of RUB 42.3 billion a year earlier. Revenue increased by 23.2% to RUB 149.9 billion from RUB 121.7 billion. The gross loss amounted to RUB 27.67 billion.

Aeroflot's net loss under IFRS for the first half of 2021 decreased by 52.4% to RUB 27.74 billion from RUB 58.27 billion a year earlier. Revenue increased by 30.7% to 195.15 billion rubles from 149.35 billion rubles, EBITDA increased by 3.7 times to 41.58 billion rubles from 11.09 billion rubles.