Prime Minister Stepashin to attend conference to focus on the development of aviation leasing structures

Published: 7/26/1999

Sergey Stepashin, the Russian Prime Minister will attend an aviation conference between the 5th – 6th August in Ulianovsk according to Deputy Prime Minister llya Klebanov. The focus of the conference, reports Klebanov, will be the development of a structure of leasing for Russian aircraft in Russia and start the process of replacing the existing Russian aircraft fleet with new Russian aircraft. Invitations to the conference have been made to the producers of Russian aircraft, the top ten Russian airlines, banks, insurance companies and others interested in the development of aircraft leasing in Russia. According to Vladimir Andreev, the head of Federal Air Transport Service (formerly known as the Federal Aviation Service (FAS)) Russia needs to create an effective national aircraft leasing company. Although he emphasised that the success any project is dependent on the government committing to serious guarantees for the large amounts of capital required. Andreev further commented that the 11 existing leasing companies registered in Russia are having little impact on the market"s need for new aircraft. The creation of a national leasing company is therefore a priority and the government should discuss proposals with commercial companies about jointly developing a structure as soon as possible. “Leasing is the only thing which can help", - the head of Federal Air Transport Service said.

Article ID: 694