IAPO moves back into profit in the first nine months

Published: 12/2/1999

The producer of the Be-200 amphibian and Su-30 based in Irkutsk, IAPO has announced its nine-month results under Russian Accounting Standards, showing an improvement to the plant"s bottom line with a pre tax profit of 39.27m rubles after a loss in the same period of 1998 of 15.93m The main reason for the improvement was the delivery of two unspecified aircraft, but probably Su-30s for India, part of an order book with India worth $2 billion. During the period, the company"s reported that it had also delivered equipment to China and Vietnam, probably Su-27UBs. The company stated that they were in further talks for additional orders from China, although current reports suggest those orders are very much in hand. In operating terms the company benefited from receiving substantial advances on future deliveries and from short tem debt funding of $40m. Despite the substantial revenue from the Su-30 and its upgrades, IAPO considers the Be-200 amphibian to be an interesting civil prospect and said it was in discussions with a number of potential customers for the $25 million aircraft.

Article ID: 1163