Debt swap appears to be the route for funding further development of the Yak/AEM-130

Published: 9/2/1999

Reports are beginning to emerge from Moscow which suggest that Yakovlev may finally be close to securing, from the Russian government, the financing required to produce four prototypes of the Yak/AEM-130 advanced trainer/light fighter. The announcement of funding has been expected since the signing of an intergovernmental agreement with partner, Aermacchi, on 20th May 1999(www.concise.org 25th May 1999), to begin production of the aircraft. The funding of this project has always been challenging. Various plans have been proposed, the most plausible of which has been Aermacchi taking over Russian debt to Italy. This was confirmed as the most likely option by Vasily Panlov, Director General of Sokol, which is manufacturing the aircraft (www.concise.org 23rd June 1999). According to recent reports, quoting the Yak-130 programme manager, Chief Designer, Nickolay Dolzhenkov, this now appears to be confirmed. Aermacchi will be responsible for the designing and manufacturing the wings and tail surfaces, as well as the aircraft's fly-by-wire system. It will also integrate the weapons systems for non-CIS customers. Yakolev will be responsible for the fuselage, ejection seats, avionics, weapons systems for CIS customers and integrating the power plant, the Slovak Povazske Storjarne DV-2S. To date, customers for the aircraft have been thin, with neither the Russian Air Force nor the Italians confirming orders. The Russian requirement for 200 aircraft is well known, but the perennial problem of finance does not make them a likely large buyer in the short term. So far, the initial order/undertaking to fund the construction of ten aircraft in January 1997 (www.concise.org 25th April 1997) has been whittled down to three aircraft in recent reports, and little has been heard about orders from the Italian Air Force. Other potential customers that have been mentioned are Slovakia, which produces the aircraft's engine. Reports (www.concise.org 26th May 1999) have suggested, however, that the aircraft will have strong competition from the Aero Vodochody L-159, from the neighbouring Czech Republic, despite the agreement, announced in August 1998, to offset Russian debts to Slovakia in aircraft. The Ukraine is also mentioned as a potential buyer.

Article ID: 817