Sberbank announced the repurchase of leasing aircraft by Utair after sanctions

A RBC source close to Utair explained that the carrier was engaged in the purchase of boards from leasing even before Western sanctions.The West began to impose restrictions against banks and Russian airlines from the end of February

After the introduction of Western sanctions, the Utair airline bought aircraft from SberLeasing, Anatoly Popov, deputy chairman of the board of Sberbank, told RBC.

“There were no requests from Utair to revise the terms of the loans, the repayment schedule is being observed. After the introduction of Western sanctions, Utair bought back all the leased items from SberLeasing and closed its leasing obligations to Sber, Popov said. He clarified to TASS that all the planes and most of the helicopter fleet have been bought out.

A RBC source close to the Utair group noted that, in particular, the carrier was engaged in the purchase of aircraft operated under leasing agreements even before the introduction of Western sanctions. But, indeed, after February 24, several airliners were purchased from SberLeasing under the existing financial lease agreements for these aircraft. In total, for example, 35 Boeing aircraft were purchased from various leasing companies.

Utair announces registration of 50 aircraft out of 59 in the Russian registry Business

According to the interlocutor, nine Boeing 737-800 aircraft taken under operating lease are still in storage at Vnukovo Airport (one of Utair's base airports), the airline does not fly on them.

SberLeasing declined to comment, a Utair representative did not respond to a request from RBC.

The United States imposed EXPORT sanctions against Aeroflot, Utair and Azur Air Politics

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SberLeasing and Utair began cooperation in 2010, when an agreement was signed for the air carrier to put into operation six Boeing 737-400s with the support of a division of Sberbank. In 2011, Utair received two Boeing 737-800s and five Boeing 737-500s for a total of $100 million for a period of five years. In early 2012, the companies entered into an agreement to develop cooperation in the field of project financing and leasing.

At the end of February, the EU banned the sale of aircraft and spare parts to Russia, as well as the export of technologies used in the aviation and space sectors. Insurance and maintenance of goods associated with these industries turned out to be prohibited. The US also imposed restrictions on the export of aviation products to Russia. In addition, the European Union and the United States closed the skies to Russian aircraft.

In March, the Bermuda Civil Aviation Authority (BCAA) suspended the airworthiness certificates of Russian aircraft registered in their register, without which the aircraft is not allowed to operate. After that, Utair announced the transfer of 50 aircraft to the Russian registry, and also decommissioned liners registered in Bermuda.

In April, the US stripped Utair of export privileges, as well as Aeroflot and AzurAir. They lost access not only to US products, but also to the re-export of US goods from other countries. At the same time, Sberbank came under blocking US sanctions (SDN list), which provide for the freezing of assets. Prior to this, since the end of February, Sberbank was only on the CAPTA list, which implies restrictions on correspondent accounts in the United States.