| Other Photos |
 |
|
 |
Airlines Want Credit Too
Rosaviatsia is collecting applications from airlines for credit from state banks or state guarantees for credits. Meanwhile, the transportation minister will hold a meeting today with oil companies to discuss fuel deliveries under state guarantee. The price of airplane fuel has risen 70 percent in the last year. The companies themselves will soon be unable to pay for the fuel themselves.
Deputy Prime Minister Sergey Ivanov informed Russian President Dmitry Medvedev of the measures being taken by the Finance and Transportation Ministries to support the airline industry yesterday evening. Besides credits and guarantees on fuel, the government is proposing to offer the airlines a six-month deferment on customs duties and VAT on foreign aircraft and parts without collateral. The president replied that the measures are to be implemented without delay.
A source told Kommersant that Anatoly Pchelin, deputy chief of Rosaviatsia, the federal oversight agency for the industry, sent a telegram to airlines on Monday asking them to present information about their credit needs for 2008-2009 by October 15, with a monthly breakdown and separate account for fuel. The telegram also asked airlines to inform United Aviation Corp. – Civilian Aircraft information about their need for aircraft for 50-300 passengers through 2020 “to develop a mechanism for duty-free import of aircraft in the 50 to 300 seat segment under the control of UAC.”
General director of the state Russia Airlines Sergey Mikhalchenko said that the company was one of the initiators of the measures taken by Rosaviatsia. “Banks closed our credit lines and they are offering money at outrageous interest rates on the market now – 20 to 24 percent,” he said. A spokesman for the LUKOIL press service said yesterday that “We have had problems recently with nonpayment by airlines and, although we try to give them deferments on payment or fuel on credit, we are forced to take certain measures on it.”
www.kommersant.com
All the Article in Russian as of Oct. 17, 2008
|
|
|
