But Russian rules limiting foreign ownership must change before deal can proceed
Alenia Aeronautica has signed a framework agreement with Sukhoi Civil Aircraft (SCAC) to acquire up to a 25% stake in the division and take a major role in production of the Russian Regional Jet (RRJ). However, the head of Russia’s Federal Agency for Industry, Boris Alyeshin, warns that before any deal can proceed, rules limiting foreign ownership of Russian aerospace companies to 25% will have to be changed.
Sukhoi general director Victor Subbotin says India’s Hindustan Aeronautics is also looking to take a 10% stake in SCAC, which would lift the total foreign shareholding to 35%. HAL and Alenia could acquire their stakes before the end of the year if the Russian parliament moves quickly to raise the foreign limit to 50%. Subbotin says no talks have yet been held with Alenia on RRJ workshare allocations, although he acknowledges that Alenia has expertise in production of advanced composites.
Finance Lease (FLK) has signed a firm contract with SCAC for 10 RRJs. FLK general director Eugeny Zaritsky says FLK is close to reaching lease agreements with Aeroflot, Dalavia and Transaero. Zaritsky says the contract should be sufficient for SCAC’s prospective engine supplier Power Jet – a joint venture between Snecma and NPO Saturn – to launch limited production of the SaM146. FLK, Sukhoi Holding and insurance firm Ingorstrakh will guarantee RRJ residual values, says Zaritsky.
The Federal Agency for Industry has signed a contract with Sukhoi to provide Rb7.9 billion ($272 million) of funding for the RRJ over three years, starting in 2006.
Source: Flight International
