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Credit with Perspectives

The minoritary of the largest Ukrainian air transporter Aerosvit "Bureau" has turned to the Parliament with request to prevent the company in obtaining of credit for 10 mln of USD. The credit is planned to be received in bank under the control of Viktor Pinchuk, whose structures possess 25% of Aerosvit stock.

As it was reported it became known about the pretensions of stockholders from the letter sent to the Prime-Minister of Ukraine Yulia Tymoschenko. In it the director of "Bureau" Sergey Skalko reports that the Meeting of the Observation Committee will be held on 12, August, 2008. The question about obtaining of credit in size of 10 mln of USD will be discussed during the meeting. The credit should be obtained from Bank "Credit-Dnepr" for the term of 2 months and 10% of annual rate.

As a deposit a land plot with area of 36.78 ha on the Foros descent is proposed. As well one plot in Yalta and located on it premises of sanatorium "Foros".

Sergey Skalko added that the approximate cost of this plot is about 147 mln of USD that is much more than credit sum. "We think that the company can exist without this credit. We are worrying that in the case of non-payment the plot will come to Mr Pinchuk".

The credit that is planned to be obtained by the Aerosvit brings some confusion - the cost of deposit is several times higher than the price of the whole credit. But the company now has the seasonal necessity in resources - he replied.

Aerosvit is the largest air transporter in Ukraine. Last year the company transported 2.54 mln of people, the income was 422 mln of USD, pure benefit - 8 mln of USD. The largest stockholder (38%) - the Netherland Company Gilward Investments that is connected to Aaron Myberg, about 25% - company "Genaviainvest" under the control of Pinchuk, 22.4% - FGI and others.



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