Gref has accused management of Transaero in causing the company to bankrupt

The head of Sberbank wished Aeroflot success in bailing Transaero out, since it would be "very difficult"
Origin source
Moscow. September 3rd. INTERFAX.RU - Airline "Transaero" was in a state of bankruptcy due to system error management, said the head of Sberbank German Gref said at a press conference in the framework of the Eastern Economic Forum.

"The company insolvent, bankrupt Debt / EBITDA exceeds all conceivable limits.", - Said the head of Sberbank, which is a creditor of the airline. According to him, this has led "system error management for a long period of time."

"We are the last one and a half years led conversations with the company, and, unfortunately, it is not very well have heard. It is only in the last period of time beginning to take some action, but is obvious trend that the company has for the last year moved to a situation of insolvency , "- said the head of Sberbank.

Gref said that "Transaero" very late asked for help - only when its leaders realized that not cope with the management. "And, actually, then, a matter of urgency have been forced to switch on and lenders, including us, and forcedwas connected government ", - he stressed.

Before the "Aeroflot", continued the banker, now faces a difficult task of rehabilitation and agreement with all creditors. Sberbank plans to play in this process, "an active role", as both airlines are very large by its customers.

However, he did not specify what the debt "Transaero" to the bank. "We are not the biggest creditors of" Transaero "We have seen the dynamics of the company, and our risk management procedures for the company slammed a half years ago." - Said the head of Sberbank.

Gref did not cover the details of further work on the loan, but said that now the Savings Bank will negotiate with "Aeroflot" of the transfer of leasing aircraft. For the aircraft that "Aeroflot" will not take, Sberbank will remarketing and place them on the market. "I can only wish" Aeroflot "good luck." He is very useful, "- he concluded.

"Transaero" is now in a precarious financial position. Net loss under RAS in the first half of 2015yes it was 8.577 billion rubles, short-term borrowings at the end of the reporting period - 45.8 billion rubles. Total bank debt increased by 3% since the beginning of the year, to 67.5 billion rubles.

September 1 interdepartmental commission chaired by First Deputy Prime Minister Igor Shuvalov, decided that "Aeroflot" buy "Transaero" for 1 ruble. Shortly thereafter, it became known that Olga Pleshakova, 14 years, the former general director of "Transaero", left this post. Acting general director of "Transaero" appointed Dmitry Yerzakovich, who previously held the post of deputy Pleshakova.

Pleshakova also became chairman of the board of directors of the air carrier. Earlier this position was occupied by her husband - Alexander Pleshakov. "Personnel changes adopted by the Board of Directors on August 31 does not relate to decisions of the interdepartmental commission of the Russian government, on 1 September 2015", - stated in the message "Transaero".