AvtoVAZ may file for bankruptcy protection if it fails to restructure its debt, Oleg Lobanov, the automaker's vice president for finance, has said.

Debt totalled RUB62bn on 1 October. Of that, AvtoVAZ owes RUB25bn to state-owned conglomerate Rostekhnologii, which holds 25% of the automaker, and the rest to banks, Lobanov told Prime-Tass.

He also said AvtoVAZ might restructure its debt by swapping the debt for newly issued bonds worth RUB50bn.