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AeroSvit seeks to restructure debt; Reorg plans include layoffs
Journal Staff Report

KIEV, Dec. 7 – AeroSvit air carrier (Kiev) has joined the growing list of Ukrainian companies seeking to restructure debt.

AeroSvit supervisory council co-chairman Hryhoriy Hurtovy told Kommersant-Ukraine that the company is hoping to agree with creditors on a debt restructuring, but plans to partially pay the debt back on account of a $30 million credit issued by the owners of a 52% stake in the company.

"This is a normal commercial loan without collateral. The loan is issued for five years, at a rate not exceeding the limits of the National Bank of Ukraine.




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