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$5.5m boost for Aviakor

Financial support from MDM Bank for production of Tu-154M and An-140

Published: 8/17/1999

The MDM Bank has stated that it has opened a $5.5m credit line to Aviakor, in order to help finance the production of Tu-154M and An-140. The six Tu-154Ms are at the final assembly stage. Aviakor started assembling the An-140 in February 1999. The An-140, a medium haul airplane, is intended to replace the obsolete An-24, which has operated now for 40 years. Interest has been expressed by Aeroflot and a number of Russian regions but, so far, there appear to be few firm orders. According to Vladimir Slastenin, Manager of the affiliate of the MDM Bank in Samara, the financial support will help offset concerns and create jobs at the plant. This is positive news for Aviakor but, at an estimated cost of $8-10m per aircraft, more money will be needed.

Article ID: 761

 

 

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