ARMAVIA AIRLINE SIGNS $50-60 MILLION CREDIT AGREEMENT FOR ACQUISITION OF TWO SUKHOI SUPERJET 100

ArmInfo
2007-09-14 14:05:00

Armenian national carrier Armavia Ltd. signed a credit agreement for
acquisition of two Sukhoi Superjet 100 (SSJ100/95LR) made by Sukhoi
Civil Aircraft CJSC in Yerevan, Friday. Armavia Director General
Norayr Beluyan told journalists after the signing-ceremony.

He said Russian VTB issued a credit for acquisition of the two jets
and a credit agreement for $50-60 million was signed with the bank,
Friday. The credit was issued for 10 years. (Sukhoi Civil Aircrafts
specialists say every jet costs about $28.9 million). N. Beluyan
said the first spanking new Superjet will be delivered to Armenia
in November-December 2008. The second will be delivered within the
following 6 months. He also added that Armavia has an agreement with
the producer on acquisition of another three SSJ at option. These
jets will be delivered in 2009 and 2010.

To recall, Avafin Ltd. and Mika Armenia Trading Ltd founded
Armavia airline in 1996. Now, the airline offers its clients the
widest network of routes in Armenia to Russia and CIS, Middle East
and Europe. Armavia makes over 70 regular flights in a week to 22
directions in 10 countries. The company’s air fleet consists of four
A320, a Boeing 737-300, as well as of leased Il-86 and two Yak-42.