Utair Airlines has asked its creditor banks to write off debts totaling over 30 billion rubles. According to Vedomosti, citing its sources, if the request is refused, the carrier could face bankruptcy. Meanwhile, according to experts interviewed by TRN, the tourist market Such a negative scenario is unlikely to have an impact on business.
According to the publication, during a meeting with its creditor banks, Utair requested a full write-off of one 12-year syndicated loan worth 23.7 billion rubles and half of a seven-year syndicated loan worth 15.4 billion rubles (7.7 billion rubles). The airline explained that Utair would be unable to service a debt of this size, and that refusal would risk bankruptcy.
Overall, the carrier's current total debt amounts to 74.7 billion rubles.
As one expert familiar with the situation explained to TRN, the airline's debt is indeed very large, meaning any development can be expected. "The carrier hasn't worked with tour operators on international routes for a long time, but finding an alternative on domestic scheduled routes will be quite simple. I don't think there will be a serious crisis if Utair leaves. Yes, on some routes, for example, Moscow-Usinsk, the airline has a monopoly. Temporary problems could arise there," the expert said.
Let us recall that at the end of December last year, the airline defaulted on one of the syndicated loans, failing to transfer about 1 billion rubles to creditors. In addition, the carrier asked the syndicate, which includes Sberbank, to change the terms of repayment of the loan of 18.9 billion rubles, which was issued in 2015.
Source: trn-news.ru