Danske Banka increases the loan facility of SIA LATAUTOAVIA for purchase of anti-icing fluid
On December 29, 2010 Danske Banka signed a contract with SIA LATAUTOAVIA on increasing the loan facility up to 135 thous. EUR for an additional supply of anti-icing fluid.
SIA LATAUTOAVIA provides de-icing of aircrafts applying anti-icing fluid to ensure safe flights. Because of the high amount of snow during this winter the demand for this service from airlines has grown considerably. In order to find a fast solution and for the company to be able to purchase the required volume of this fluid, Danske Banka increased the amount of the loan facility granted to this company up to 135 thousand EUR.
SIA LATAUTOAVIA Board Member Nikolajs Dmitrijevs states that a quick decision by the bank was of critical importance in this case. "This year deep snow and extreme cold has been a surprise to many European airports. Several airports were forced to resort to a temporary suspension of flights because of shortage of anti-icing fluid. Consumption of this fluid has increased by 84% this winter compared to the same time period during last season, and the amount of provided services increased by 48.5%. Additional funding will allow us to secure supply of required volume of this fluid and to provide timely anti-icing of aircrafts," Nikolajs Dmitrijevs explains.
About Danske Banka
Danske Banka is the Danske Bank Group’s unit in Latvia. Danske Bank Group is the largest bank in Denmark and one of the Northern Europe’s leading financial institutions. The Group is widely represented in 14 countries; it serves more than 5 million retail customers and a significant number of institutional organizations. Approximately 22 100 bank’s employees are taking care about the daily needs and comfort of its customers.
The aim of the Danske Banka is to become the best local partner of its customers in financial issues. High quality service and individual approach towards each customer needs characterizes the Bank’s activities.
Danske Bank Group’s current ratings:
Long-term: AA3 (Moody’s); A (S&P); A+ (Fitch);
Short-term: P-1(Moody’s); A-1 (S&P); F1 (Fitch).
About LATAUTOAVIA
One of the basic activities of SIA "Latautoavia" is provision of technical maintenance service of aircrafts. Since 1991 the company has been one of the two de-icing/ anti-icing service operators at SJSC "Riga International Airport".
The company provides also road maintenance service during winter. For this purpose in year 2006 technological equipment for manufacturing polypropylene sections of sweepers of road maintenance vehicles was purchased with the financial assistance of Danske Bank. Currently the company sells sections of sweepers both in Latvia, where we have more than 215 customers, as well as in the EU and Scandinavian countries.
Thanks to close cooperation and mutual understanding with Danske Bank the company has been able to order another new De-icing vehicle in Denmark which will allow to provide a higher quality service and to serve even more aircrafts.