Airbus signs MOU with VEB-Leasing on financing and leasing cooperation

Airbus signs MOU with VEB-Leasing on financing and leasing cooperation
17 August 2011 Press Release

Airbus has signed a Memorandum of Understanding (MOU) with leading Russian leasing company, VEB-Leasing, on cooperation in aviation leasing and finance. The MoU was signed on the occasion of the International Aviation and Space Salon MAKS-2011 by Christopher Buckley, Executive Vice-president Europe, Asia and the Pacific and Vyacheslav Soloviev, General Director, VEB-Leasing.

In this context, Airbus and VEB-Leasing will share competences, experience and information in order to cooperate on aircraft financing and management, including the structuring of operating and finance lease transactions as well as portfolio asset management.

The MOU also foresees that VEB-Leasing will provide leasing and financing support to airlines in Russia and the CIS (Commonwealth of Independent States) in areas such as pre-delivery payment financing of Airbus aircraft, delivery financing of new and used Airbus aircraft and financing with the support of European export credit agencies.

 

Vyacheslav Soloviev explains, “the signing of this MOU on cooperation with Airbus, one of the largest modern aircraft manufacturers, will strengthen the business relations between the parties, lead to higher levels of service quality and competitiveness in the aircraft leasing market and help airlines in Russia and other CIS countries’ renew their ageing fleets.”

“Our cooperation with VEB-Leasing will contribute to further developing the operating and financial lease market in Russia and the CIS. It will also help airlines in the region receive full-scale and innovative financial solutions,” said Christopher Buckley. “We remain committed to helping our customers find the most efficient and competitive ways to finance the deliveries of their Airbus aircraft."

VEB-Leasing was founded in 2003. The main shareholder of the company is Vnesheconombank. The Company specializes in leasing aircraft, marine and river vessels, high-tech equipment, rolling stock, vehicles and specialized equipment. In 2010, VEB-Leasing took the industry's top sport in the new business volume and net lease portfolio segments, while maintaining leadership positions in the key capital-intensive segments such as leasing of aircraft, railway rolling stock, marine and river vessels.

Airbus is the leading aircraft manufacturer with the most modern, comprehensive and efficient family of airliners on the market, ranging in capacity from 100 to more than 500 seats. Over 10,800 Airbus aircraft have been sold to more than 440 customers and operators worldwide and more than 6,800 of these have been delivered since the company first entered the market in the early seventies.