UTair Aviation and Svyaz-Bank complete first refinancing acquisition deal for Mi-8AMTs

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Russian operator UTair Aviation and Svyaz-Bank - in partnership with Region Leasing - have completed their first refinancing acquisition deal for the purchase of three new Mil Mi-8AMT medium twin-engined helicopters.

"Due to favourable financing conditions, we were able to optimise the company's spending to upgrade our fleet," says UTair chief financial officer Igor Petrov of the transaction.

Tyumen-based UTair says its in-service Mi-8AMTs operate under international commercial contracts in Europe, and are used by the oil and gas industry in western and eastern Siberia. The company is ranked as the largest helicopter operator in the world, with 350 domestic and foreign made aircraft, primarily Mil and Eurocopter types.