4 Oct 2018 16:04

Financing to build Il-96-400 passenger jets via STLC postponed at least until 2020

MOSCOW. Oct 4 (Interfax) - Financing to manufacture Il-96-400 passenger jets via contributions to the capital of Russia's State Transport Leasing Company (STLC) has been postponed until 2020 at the earliest.

Under a Russian government resolution published on Thursday, STLC will receive 9.8 billion rubles in 2018 to purchase eight regional Sukhoi Superjet 100 (SSJ100) passenger jets, which are expected to be delivered in 2018-2019. STLC plans to raise the other 9 billion rubles for the deal with Sukhoi Civil Aircraft Company (SCAC) on the market, the company said in a statement.

The 2018 federal budget had originally earmarked 9.8 billion rubles for STLC to support the Il-96-400M program to produce a passenger version of the Il-96-400T cargo jet. STLC was to use the money to order two Il-96-400M aircraft, for subsequent lease at discounted rates.

Another 4 billion rubles was planned as advance payment on two modernized Il-96 aircraft: a resolution to provide that amount of capital to STLC was issued at the end of 2017. But in August 2018, an updated version of the resolution was published indicating that the money was to be redirected to purchase of 19 Mi-8 and Ansat helicopters (Russian Helicopters) and four light L-410 short-range transport planes (whose production has been localized at Rostec's Ural Works of Civil Aviation).

The 13.8 billion rubles that STLC was to have received for the Il-96-400M in 2017-2018 might be received in 2020, according to materials in the draft state budget for the coming three-year period. It was previously expected that STLC would receive the planes in 2021.

The Il-96-400M program stipulates production of one test aircraft and six serial production planes. The project's overall cost, including capital allocations to STLC, is estimated at 53 billion rubles. Under a decision by President Vladimir Putin, production of the Il-96-400M will be partially financed with income from Rosneftegaz.