Published: 11/21/1997

In addition to four Il-96Ts ordered at MAKS'97, Volga-Dnepr, the cargo operator, has signed for two Tu-204s in cargo version. These are currently under construction at the Aviastar factory in Ulyanovsk. The company says that the constantly growing cargo traffic in Russia, demands new airplanes with high turnaround capabilities for conveyance of containers and palletised cargoes. The two Tu-204s being considered are in a high degree of readiness, and will enter service at the beginning of next year. They are fitted with US avionics and Rolls-Royce engines. The financial component of the deal has not been agreed upon in detail yet. It is known, however, that the Sirocco Aerospace International leasing company has agreed to fund the purchase of two Tu-204s for transfer to Volga-Dnepr on an operational lease. Volga-Dnepr President says that the high fuel-effectiveness of the Tu-204 will make it a very profitable airplane, competitive with the best western aircraft. "If the Tu-204 proves successful in operation, we will order more airframes", he adds. Isaikin says that Volga-Dnepr is also considering PS-90-powered Tu-204s. Together with the Aviastar factory, the Tupolev design bureau, operators and financiers, the company is trying to make an assessment of operating expenses and revenues for the type. "Without knowing the operating economics we cannot make a decision", Isaikin says. He remarks that rentals charged today for airplanes with PS-90s are very close to these with Rolls-Royces and, therefore, "not serious" taking into account the poorer reliability of Russian engines. Explaining the situation with the four Il-96Ts ordered from VASO, Isaikin tells ConCISe that the deal can materialise only if the National Reserve Bank manages to establish a well-functioning leasing company. The lessor would fund the construction of the Il-96M/Ts and then lease them to Aeroflot, Volga-Dnepr and Transaero. According to Isaikin, the major problem here is how to determine the real market price for a used Il-96. Earlier, the prices for newly-built Il-96T and Il-96M charged by the VASO factory was quoted as being $63m and $75m, respectively.(AL1197.1) (VK)

Article ID: 84