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Company News

25 October 2006

Aeroflot And Leading European Banks Signed Documents On Financial Leasing Of Seven Aircrafts А321

OJSC "Aeroflot - Russian Airlines" and leading European banks financing a purchase of aircrafts (AC) - Natexis Banques Populares, Calyon and ABN Amro Bank (London Branch) signed documents on financial leasing of seven aircrafts Airbus А321 to be delivered within 2006 - 2007.

According to credit agreements, concluded within the frameworks of financial leasing, 100% financing is provided for the aircrafts purchase. The credit against guarantees of the European credit agencies (COFACE, HERMES and ECGD) for 12 years is granted at 85% of the delivery value of the aircrafts, commercial credits of the second and third ranks for 10 and 3 years correspondingly are granted at 15% of the delivery value.

Earlier in April 2006 Aeroflot signed a credit agreement with the banks Natexis Transport Finance and Calyon on financing of advance payments for purchase of seven aircrafts А321 that became a part of the banks financial package of the financial leasing of seven А321.

A large-scale financial leasing deal of the aircrafts purchase with participation of the Export credit agencies is the second for Aeroflot (financial leasing of eight aircrafts A320 was arranged in the same way in 2003-2004). Receipt of export guarantees from credit agencies on the provided financing and organization of "package" financing allow the air company to attract credit means at advantageous terms (at the LIBOR level + 0,5% with respect to banks commissions and Export credit agencies for the term of 12 years). This type of financing of aircrafts purchase is the most attractive for the air company.

The first А321 has been supplied today within the frameworks of the financial leasing deal.

Aeroflot is planning to develop cooperation with Export credit agencies in terms of receipt of guarantees on the attracted financing for organization of financial leasing for aircrafts purchase according to the plan of the company's fleet park development.