19.10.09 18:00 ;
  As of October 1, 2009 net debt of OJSC AvtoVAZ under RAS was more than 62 billion rubles. At the end of 2009 this figure could pass for 75.2 billion, during the conference in Togliatti said executive vice president of finance company Oleg Lobanov, reported Russia's media. In order to avoid bankruptcy, the plant must agree on debt restructuring with its major lenders - Sberbank, VTB and daughtersof VEB. If other options fail to realize, we do not remain as to declare bankruptcy - Lobanov said in response to a question about the probability of bankruptcy of the concern. In his speech he noted that even in the 2 quarter of this year, the company's debt was 15.6 billion rubles.

«AvtoVAZ, except the debt on loans, has a total accounts payable to suppliers and contractors, which management expects the company could reach 8.4 billion rubles by the end of the year.

Lobanov said that AvtoVAZ invites the Government to float a bond loan worth 50 billion rubles, which bought a major creditor banks. He said that 38 billion of the allocated funds the company could send to refinance debt, and the remaining 12 billion to replenish working capital.

President of Russia, Igor Komarov automaker announced that the 2012 leadership intends to release from work at the enterprise 21,8 thousand people. As of October 15, 2009 of the company listed 96,2 thousand employees.

At the news of a possible bankruptcy stock quotes AvtoVAZ on MICEX slowed growth to 17-50 Moscow time is added only 0.19% and it looks worse than the market.
  

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