Russian carrier SarAvia to lease Embraer 195s

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Shareholders of Russian carrier Saravia have approved the lease of two Embraer 195 aircraft from Celestial Aviation Trading 33, an affiliate of GECAS, according to media reports.

The Saratov-based carrier will lease the E-195s for a period of seven years with the right of early termination at the fifth year.

The $35.5 million transaction includes monthly leases of $216,000 per aircraft for the first five years, and $200,000 a month for the remaining two years of the leases.

Saravia's shareholders also approved a five-year loan from Cyprus-based Sirindini Investments. The facility carries a 7% interest rate per annum and shall not exceed $10 million, according to reports.

The transaction marks the third time Sirindini Investments provides a loan facility for the Russian carrier. At 31 December 2012, the two previous loans amounted to $9 million.

According to Flightglobal's Ascend online database, SarAvia operates a fleet of Yakolev Yak-42s.