Published: 6/19/1998

Two major Russian banks, Menatep and Inkombank, have pooled their efforts, aimed at helping the aircraft building industry overcome the crisis it currently faces. For the first time since the beginning of the reform, the leasing mechanism is really beginning to be used in the industry. This will make it possible for Russian airlines to acquire and use aircraft of Russian make. The Aviastar aircraft building complex in Ulyanovsk has already signed an agreement on the sale of two Tu-204s to the leasing company Inkom-avia, created under Inkombank, a spokesman for Menatep told ConCISe. The two banks financed the building of two Tu-204s at Aviastar, costing some $US25m each. It is planned to deliver them to Inkom-avia in November 1998 and March 1999, and they will be placed on a 12-year lease with the Khabarovsk United air company.Menatep will render financial assistance to the operator. According to Menatep,under the agreement signed with Khabarovsk, it is also planned to lease a modified Tu-214, which is produced in Kazan. It is also planned to create in the near future the Novaya Aviatsiya (for New Aviation) leasing company with the participation of Menatep-leasing and Inkom-avia companies. It is reported that the Russian banks are counting not only on the participation of foreign partners in the projects, but also on the support of the state, because the development budget for 1998 envisages state guarantees for aviation programmes, including those connected with aircraft leasing. Menatep and Inkombank plan to participate in such projects with several other Russian banks. (IN698.5) (VZ)  

Article ID: 191