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Fly, Don’t Buy Airlines or Why Big Banks Make Dumb Loans

in Russia/The Process by
russia 2

If I’ve learned anything over the years, it’s that people don’t learn. Recently, I talked to my cousin who is an executive with a Russian airline company. In our discussion he mentioned that his company just received semi-unsecured loans (all planes are leased so they are not used as a collateral) from western banks at 10%…

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