Russian airline enterprise Volga-Dnepr Group agreed a new strategic cooperation agreement with Sberbank, Russia’s largest bank, at the recent St. Petersburg International Economic Forum.
The deal was inked by Maxim Poletaev, first deputy chairman of the Executive Board of Sberbank, and Alexey Isaikin, president of Volga-Dnepr Group.
Volga-Dnepr Group has confirmed through the deal with at will now consider Sberbank as “a strategic partner” for the financing of future projects, including investment banking projects, and the project to develop within the aircraft leasing business using Volga-Dnepr Group’s Irish subsidiary.
Additionally, the agreement envisages provision of financial and advisory services, including those offered by Sberbank CIB, thebank’s corporate and investment banking business.
Sberbank (including its subsidiary Sberbank Leasing) and Volga-Dnepr Group have worked together since 1997. Together, they have completed projects to acquire and then supply to Volga-Dnepr Airlines AN-124-100 Ruslan aircraft, as well as financed the purchase of various Boeing 747 freighter aircraft.
Isaikin remarked: “Sberbank is a reliable partner that Volga-Dnepr has worked with throughout our 20 years of development.
“Our companies are carrying out long-term strategies focusing on continuous development of high-tech and unique solutions in the area of logistics and accessible services for clients.
“Our coinciding values and strategic principles serve as a foundation for developing our relationship as we work on Volga-Dnepr Group’s international projects,” Isaikin noted.
“Volga-Dnepr Group is one of our key clients. We highly value our experience of working on joint projects with Volga-Dnepr Group in the area of air freight transportation, and plan to broaden cooperation in the future,” Poletaev commented.
Volga-Dnepr Group incorporates both Volga-Dnepr Airlines, which offers freighter charters, and AirBridgeCargo Airlines (ABC), a scheduled service freighter operator.
