11/08/2019 16:52

Laurels or a straw?

[IMG=18361-3953] Until the end of the year ‘Vim-Avia’ plans to allocate a bill loan (each bond for 1-5 million roubles) for the total price of 500 million roubles. It was announced on the 16th of November by the representatives of the air company during a special presentation. The project is organized by ‘Region’ group pf companies as well as ‘Impexbank’. They will promote bonds on the market taking up the role of a mediator between the carrier and the potential buyers who can theoretically be any natural or legal persons. Among major purposes of the project ‘VIM-Avia’ names ‘additional financing’ of current assets. ‘We have large expenses on leasing liability. Amid the increase of fuel prices, the profitability of the company fell’, admitted Vladislav Kargin, first deputy of general director of the finance and economics of the airline company. The total sum of the agreement of leasing 12 Boeings of the company was $170 million. What is more, via issuing of bills the airline company expects to create a positive credit history which will assist to receive large scale investments. According to experts in the financial sphere interviewed by BANKO, the solution chosen by ‘VIM-Avia’ looks very logical. A substantial credit as well as will bond loan not be granted to a young airline company which does not have its own planes. Entering stock exchange is also quite problematic as this means assumes a high profitability of the company, a long procedure of financial audit and arranging of capital stock issues. Meanwhile experts believe that bill issuing is practically an attempt to play an all-or-nothing game. ‘It is possible they are clutching at a straw. Perhaps airline company is trying to pay to creditors this way, e.g. with airports and oil companies’, assumed an representative of one of the largest Russian banks wishing to stay anonymous. On the other hand, experts, integrated in tourist market, believe that management of ‘VIM-Avia’ most certainly has a card up their sleeve, announcing their debt program. ‘Rashid Mursekaev – is one of the strong businessman’, commented Sergey Prigolovkin, chairman of the board of ‘Paks company’. Nadejda Savina , commercial director of ‘Continental airlines’ agrees with him, saying that ‘VIM-Avia’ has perspectives: ‘There are interesting and smart people working in the company. Rashid has an exceptional personality.’ Nevertheless, experts do not take up to forecast the success of the program, initiated by ‘VIM-Avia’. Due to the characteristics of bond loans (‘short’ money) it follows that the air company is planning to make a move during a year. Some consequences are already visible now: for example, the increase of advance payment for charter programs.