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2007-12-11
Bankas SNORAS finances the purchase of aircrafts from one of flyLAL Group companies
Bankas SNORAS has granted a 7-year loan for purchasing three airplanes from Aviation Assets Management company which belongs to the group of enterprises flyLAL Group. The entire cost of the project, which is financed by Bank SNORAS, amounts to LTL 68.1. mln (USD 28.8 mln).

"This project is the first stage of Bank SNORAS' cooperation with flyLAL Group; however, we do hope that after its successful realization we will continue collaborating. We are elated that we can assist in development of aviation business in Lithuania and in improving the quality of passenger air-transportation," - Modestas Keliauskas, member of Bankas SNORAS Board and Director of Crediting Division, states.

Bankas SNORAS has signed the agreement with Aviation Assets Management company, which belongs to the group of enterprises flyLAL Group, about purchasing three aircrafts. The first airplane Boeing 737-500 purchased by the loan funds has already been delivered to Lithuania, and now it is being prepared for commercial flying. Aviation Assets Management company, which spreads its activity in purchasing and renting aircrafts, is renting the new airplane to flyLAL - Lithuanian Airlines which belongs to the same group of enterprises.

"Development of the aircraft park is one of the main tasks in endeavouring to strengthen the positions of flyLAL Group in the East European region - Linas Dovydėnas, Director General of flyLAL Group, says. - The project financed by Bank SNORAS will assist us in updating the aircraft park, expanding the geography of flights, earning even greater loyalty of customers and more favourable evaluation of the services quality."

The other two airplanes of Aviation Assets Management company, which have been purchased by the loan funds of Bankas SNORAS, will reach Lithuania in the beginning of next year.          


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