AVIASTAR ASIA (AAC), a new joint venture involving Russian aircraft-production company Aviastar and several South-East Asian financial institutions, opened its office in Taipei on 24 July. The consortium will provide leasing, financial and technical support for the Tupolev Tu-204, which is assembled in Ulyanovsk.
AAC is planning to place an order in September for 20 Tupolev Tu-204s, with the deal including a mix of -100s , -200s (both with Perm PS-90 and Rolls-Royce RB.211 engines) and Tu-234s (a short-fuselage, PS-90- powered derivative). Additionally, the consortium claims that it plans to order at least 20 aircraft a year.
Aviastar has completed the first production Tu-234 airframe at Ulyanovsk, even though the prototype, which was converted at Zhukovsky from a Tu-204 airframe in 1995, has yet to be flown.
The Asian venture, registered in Singapore, has been set up with an initial capital of $10 million. Aviastar holds a 25% stake. The identities of all the other shareholders have not been disclosed, but it is known that Japanese financial companies Tomen and Yamakhi Securities, and China Trust Development, are participating, along with other Chinese, Japanese, Malaysian and Singaporean companies.
AAC aims to place Tu-204s in what is perceived as the traditional Russian-airliner markets - Africa, Asia, the CIS, Eastern Europe, the Middle East and the Pacific rim.
A Moscow-based subsidiary of AAC is planned, Aviastar Financial International (AFIC), which will be tasked with leasing activities in the CIS, Eastern Europe and, possibly, the Middle East. AFIC shareholders will include Aviastar, Moscow International Bank and Perm Motors.
To provide Asian support for the Tu-204 and the PS-90 engine, a maintenance and overhaul centre at Kao-Hsiung Airport in Taiwan will be modernised. It is also claimed that production of Tu-204 airframe components and interior furnishing will be undertaken at the centre.
Balkan-Bulgarian Airlines is said to be planning the acquisition of 16 Tu-204s. A barter-trade scheme has been provisionally agreed, which will involve payment for the aircraft being made in vegetables, fruit, wine and tobacco. These are its traditional exports to the former Soviet Union under COMECON agreements. This scheme is being reviewed by Russia.
Source: Flight International
