UTair: new Alfa Bank`s suit not to disrupt operation of air carrier

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Negotiations with creditors of UTair Airlines have entered their final stage. The new suit filed by Alfa Bank to declare the carrier bankrupt will not disrupt the operation of the company, a UTair`s representative said to TASS.

"As part of the loan portfolio restructuring, UTair continues a constructive dialogue with all its creditors, including Alfa Bank, said the representative of the air carrier. At present, we are having advanced negotiations with our partners, and in the near future we expect to reach appropriate agreements on all the key issues."

The company is operating normally, said UTair adding that "the suit filed to the arbitration court by Alfa Bank will not have any negative impact on the peration of the air carrier".

New suit

As previously reported by TASS, on Thursday Alfa Bank filed another suit to declare UTair air carrier bankrupt. The credit institution demands to introduce a monitoring procedure for UTair, including the third queue of creditors' requirements with the total sum of payments in rubles equivalent to 8.75 mln USD at the rate set by the Central Bank of the Russian Federation for the date of the introduction of the procedure. The proceedings haven`t been initiated yet.

On Wednesday, the first Deputy Governor of the Khanty-Mansiysk Autonomous District Alexander Kim said that Alfa Bank had agreed to restructure the debt. The bank hasn`t confirmed this information. UTair`s absence of agreement with creditors impedes the state support for the air carrier.

UTair`s Supervisory Council has fixed the date of an extraordinary shareholders' meeting for April 10, during which it is planned to consider related transactions amounting to 130 bln rubles. UTair Group is one of the three leading air carriers in Russia. More than 60% of its shares are owned by NPF "Surgutneftegaz", the rest belong to subsidiaries and minority shareholders.

Text and pictures by TASS