UTair Optimizes Insurance Coverage for Its Helicopter Fleet

UTair Optimizes Insurance Coverage for Its Helicopter Fleet

6-Jun-2014 Source: UTair

A new comprehensive insurance program for UTair Group rotary wing aircraft covering and expanding the number and types of insurance risks has come into force.

The new policy provides for hull coverage on helicopters of the Mil family, including Russian-built Mi-8AMT/MTV, Mi-171 and Mi-26 helicopters and the Kamov Ka-32, as well as foreign made helicopters such as the Airbus AS350 and AS355, the BO-105 and Robinson R44. All these helicopter types are operated by UTair Aviation, UTair – Helicopter operations and other domestic and foreign UTair Group subsidiaries including Vostok Aviation Company, Turuhan Airlines, UTair Europe, s.r.o. (Slovakia), UTair South Africa, and Helicopteros del Sur S.A. (Peru).

The new policy unites the previously disparate high limit liability insurance policies of UTair Group companies for passengers, 3rd parties, cargo shippers and cargo owners.

A special tender was held among leading international insurance brokers and Russian and foreign reinsurance companies to select the best opportunities to realize this global insurance solution.

“The new insurance policy will allow the UTair Group to decrease its financial risks by redistributing them among insurers, as well as to optimize insurance costs for each company in the Group by means of rescaling,” said UTair CFO Igor Petrov. “This is a typical approach to insuring diversified assets according to international best practice.”

The UTair Group includes airlines conducting passenger and cargo operations with fixed wing and rotary wing aircraft as well as enterprises offering MRO, personnel training, flight services and air transportation sales services. UTair Aviation is the Group’s core enterprise. The group includes UTair-Express, UTair-Ukraine, UTair-Cargo, UTair-Helicopter services, Turuhan Airlines, Vostok Airlines, Katekavia, Helisur, UTair Europe, UTair South Africa, UTair India, UTair-Technik, UTair-Engineering, Ural Aviation Services, UТair-TG, UTair-Armenia and other enterprises. UTair Group headquarters are situated in Surgut. Subsidiaries are located in Surgut, Tyumen, Khanty-Mansyisk, Moscow and in other cities in Russia and world.

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