11/08/2019 16:52

What is bill of exchange telling about?

[IMG=18371-3963] News about ‘VIM-Avia’ company entering the market of debt liabilities brought the attention of on-viewers: on the 17th of November BANKO Information Service discussed the event on the site www.tourdom.ru. A day later we made more research into the situation interviewing representatives of companies who work in investment. Anatoly Khodorkovsky, director of analytics and information of group of companies ‘Region’ (this group organizers the bill of exchange program of the airline company along with ‘Impex bank’) is convinced that the emission of bill of exchange will be successful. According to him, the level of debt load of ‘VIM-Avia’ is lower than those of other carriers on the financial market. ‘It is not a one-time money collection. The company has acceptable financial results and a clear development strategy, which suggests, for example, emission of bonds’. Other experts interviewed by ‘BANKO’ still hesitate to forecast the success and attractiveness of the program initiated by ‘VIM-Avia’. ‘Bill of exchange is just an instrument of debt market. The entrance on the market of liabilities only says that for some reasons the company wants to get access to a larger number of creditors than banks’ – believes Alexey Y., an analytic of investment company ‘Anton’. Michail Ganelin gives a diplomatic answer, adducing examples of other carrier’s experience: ‘Emission of exchange bill is a common practice; similar tactics were earlier used by ‘Transaero’ and UT Air. It is obvious that the company needs money and wants to have a credit history. The sum of bill of exchange is small so it is likely there will be someone willing to buy the bonds’. However, in order to realize plans of ‘VIM-Avia’, experts believe that the company has to make impressive efforts as the competition in the market of international flights is growing. If two-three years ago ‘Boeing’ and ‘Air busses’ were uncommon, now even relatively small carriers have them. Growing fuel prices force Russian airline companies to place stakes on more economic Western equipment. This way, ‘VIM-Avia’ can eventually loose one of the competitive advantages – a status of the user of prestigious foreign brands. And by all appearances the airline company knows it.