Financial Leasing will boost regional aviation in Russia

A contract for three AN-38 aircraft for regional use has been signed by Finance Leasing Co. (FLC) and the Novo-Siberian Aircraft Manufacturing Group. As learned by Rosbalt, the contract was signed Monday as part of MAKS-2003, the International Aeronautics Exhibit underway now in Zhukovsky (Moscow Region).

Sergei Galperin, head of the air division of FLC, told Rosbalt that the three planes would each have a capacity of 28 passengers and would be produced in 2004 for delivery to FLC. The price of each plane is approximately $3.5 million.

'The last construction of such aircraft goes back five years, when the Russian government cut off financing and all such work stopped,' Galperin said. 'The classic licensing arrangement being introduced by FLC will help revive Russia's regional air traffic. FLC is conducting more than 10 other negotiations in the course of the air show that are expected to lead to contracts.

FLC registered in Moscow in 1997. It specializes in licensing services for Russia's military-industrial industry and for transport-related and industrial firms. The major shareholders: the Russian Federation, 58%, and the Republic of Tartarstan and its subsidiary bodies, 18%. Company partners: Gorbunov Kazan Aircraft Enterprise, Chkalov Aviation, Sukhoi Aviation Holding Co., Ros-defense-export, and Dalavia of Khabarovsk.

Chkalov Aviation, founded in 1931, is one of Russia's main producers of aviation technology. It has produced approximately 29,000 aircraft of various types. It currently produces the Su-32 bomber-fighter and the AN-38 for regional aviation and is currently updating the Su-24.