Ural Airlines received a second soft loan under the state support program

Ural Airlines signed an agreement with PJSC Sberbank to open a credit line in the amount of 403 million as part of the state anti-crisis program aimed at supporting business and maintaining employment. The first tranche of this line is scheduled for today, June 5, 2020.

Under the new program, banks provide loans at 2% per annum for up to 13 months. The maximum tranche amount is limited to twice the minimum wage, multiplied by the number of employees. The loan itself and interest will be completely written off by the state while maintaining employment not less than 90%, and if maintaining employment not less than 80% - half of the loan amount and interest on it. Lending conditions are enshrined in RF Government Resolution No. 696 of May 16, 2020.

Sergey Skuratov, General Director of Ural Airlines:

“Today we have signed another agreement to receive preferential financing as part of a program to support companies most affected by the coronavirus pandemic. We value the partnership with Sberbank and are grateful to them for the prompt decision-making and preparation of all documentation as soon as possible. Ural Airlines became the first borrower in the Ural Bank of Sberbank to receive a loan under this program. ”

Vladimir Cherkashin, Chairman of the Ural Bank of Sberbank:

“Last week, we opened a credit line to Ural Airlines with a limit of 3 billion rubles at a reduced interest rate as part of the state program to support systemically important enterprises. In addition, the term of the existing credit line was extended for another three years, until October 2023. Today, Sberbank has additionally increased its lending volumes to support the business of our strategic partner. We are in constant interaction and use all resources to help the enterprise. ”