December 19 "UTair-Finance" - "daughter" of "UTair" - could not redeem early exchange bonds by 281 million rubles. Two weeks earlier, she was not able to fulfill the requirement of redemption of securities by 2.7 billion rubles. The right to demand early redemption from the bondholders came after "UTair-Finance" defaulted in the payment of the coupon to 74.17 million rubles.
Alfa Bank said yesterday that he decided to suspend the "actions that could lead to the termination of flights" "UTair" until the end of the Christmas holidays. " Alfa-Bank - one of "UTair" creditors, he claims the court has already seized its helicopters. Now the bank promises not to take action to arrest the aircraft and accessories company based airport "UTair" - by "arrangement with the government." What kind of an agreement, the bank's representative did not elaborate.
Itself "UTair" reported that "the total weight of seized assets" is already several times higher than the amount stated claims, and it is "significantly interfere" of its operationspits.
Another impatient financial distress carrier - "Transaero" can receive direct support from the state. Yesterday, the Government published a draft decree on granting of state guarantees, so that she could take in VTB to 9 billion rubles. at least three years. The government is ready to guarantee the return of 100% of this amount.
VTB is negotiating a loan of "Transaero" - its long-term honest partner, confirmed the representative of the bank. The mechanism of state guarantees he calls "an important interim measure". The representative of "Transaero" declined to comment.
Last week, Deputy Prime Minister Arkady Dvorkovich said "Vedomosti" that "UTair" and "Transaero" seeking help from the government. Both in difficult financial situation.
According to the report, "Transaero" in the first nine months of 2014, only the largest creditor - Gazprombank - it should be 4.67 billion rubles. Recently Tass reported, citing unnamed sources, that "Transaero" before the New Year may suspend flights due to the dlgov; however, the company denied it.
General requirements for "UTair" and its "daughters" in arbitration claims exceed 5 billion rubles. (Some of them foreign exchange), the company has been arrested assets of more than $ 30 million Financial debt "UTair" (excluding letters of credit, guarantees and leasing) -.. 72.4 billion rubles, overdue accounts receivable -. 13 billion rubles, the airline reported last week.
The largest creditor is "UTair" - Sberbank (payable to him on September 30, 2014 -. 23.4 billion rubles) creates a syndicate of lenders to after the New Year to discuss refinancing options "UTair" debt, told "Vedomosti" employee of one of the banks - creditors "UTair" and confirmed by a representative of Alfa Bank. One option - conversion of debt in ruble bonds with extended maturities, an analyst at IFC "Metropol" Andrei Rozhkov: it will put all creditors on an equal footing, plus they will receive a relatively liquid instrument. However, then "UTair" have to find funds to repay the bonds on which it defaulted, pre-duprezhdaet analyst (see. incision). One way to do this - already approved by the Board of Directors of "UTair" additional issue of shares by 13.8 billion rubles. in favor of main shareholder - NPF "Surgutneftegaz" - and its structures.
Another option continues Rozhkov, could be the conversion of "UTair" debt into shares. Sberbank is discussing this option along with the option of debt restructuring agency Tass reported yesterday, a source close to the negotiators. The fact that the Savings Bank does not exclude the entry into the capital of "UTair", said earlier "Vedomosti" a source in one of the banks - the airline's creditors. Yesterday representatives of Sberbank, "UTair" and "Surgutneftegaz" did not comment on it.