Funding for four Il-96-400Ts? (250 words)

Published: 8/20/2001

Ilyushin Finance and Atlant-Soyuz have signed an agreement for the delivery of four Il-96-400Ts in a contract reported to worth $160m. Ilyushin Finance is expected to provide the funding for the deal. According to Stanislav Levchenko, General Director of Atlant-Soyuz, VASO is currently working on two Il-96-400Ts, one of them the former IL-96T, which recently had its P&W power plant and Collins avionics suite removed and which is expected to be brought into operation in seven months. The second aircraft is to be built from scratch and is expected to be completed in 24 months. Levchenko said that the orders for the aircraft are in addition to the ten Il-96-400s and four Tu-204s ordered earlier this year from Ilyushin Finance, but are conditional on a successful tendering for the government guaranteed leasing scheme. Even if Ilyushin Finance does not succeed in the tender, the four freighters will be delivered, according to Atlant-Soyuz. The first aircraft at least seems probable, provided sufficient finance can be found, as the airframe is owned by Ilyushin Finance. Even so, the deal poses a couple of questions on the certification of the Il-96-400T: namely, whether it can be achieved as quickly as anticipated by Levchenko's comments and - a recurring theme - whether Ilyushin Finance is truly able to provide the financing. Aeroflot has also signed a letter of intent for four Il-96-400Ts, but as yet no real details or timetable have been revealed. The removal of the P & W engines from the Il-96T, for which the first customer was to be Aeroflot, must put the programme in severe doubt. While it is difficult to predict the outcome, given the vagueness of the commitment, Aeroflot's requirement is definitely valid and it recently announcement the lease of DC-10 freighters.

Article ID: 2716