The Russian airline Aeroflot in 2021 will receive state guarantees in the total amount of up to 23 billion rubles. The corresponding order of the government of the Russian Federation on Thursday, December 23, was published on the official Internet portal of legal information.
“To provide in 2021 as security for the fulfillment of obligations of the public joint stock company Aeroflot – Russian Airlines” a state guarantee of the Russian Federation in the amount of up to 23 billion rubles to secure the fulfillment of obligations on the return of a part of the loan amount up to 50% of the actually provided loan amount attracted in the public joint stock company “Sberbank of Russia” in the amount of up to 46 billion rubles for a period of up to five years, ”the order says.
In May of this year, Sovcombank signed an agreement with Aeroflot, according to which the rate on the revolving credit line in the amount of $ 320 million is tied to the carrier’s ESG rating from the international rating agency MSCI ESG.
The carrier is now rated BB, following a recent upgrade from MSCI ESG Ratings due to positive environmental and CO2 emissions management results. This is another loan in Sovcombank’s portfolio, the interest rate on which is linked to the borrower’s obligations in the field of sustainable development.
Prior to that, in July 2020, the Russian government allocated state guarantees to Aeroflot for loans in the amount of 70 billion rubles.
Russian Prime Minister Mikhail Mishustin then noted that a difficult situation had developed in the air transportation market, and Aeroflot also bears significant costs due to the situation with the coronavirus: the company’s revenues were affected by a significant reduction in domestic traffic and the practical stop of international flights.
Source: IZ
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
