Alexander Velovich/MOSCOW
The future prospects of the Ilyushin Il-114 have improved after a deal to fund production of the 64-seat twin turboprop and the creation of a consortium to market and develop the aircraft.
Ilyushin has signed a letter of intent with Incombank, one of the leading Russian private banks, covering finance for the production of the turboprop. The deal follows the announcement of forthcoming government support for Il-114 series production during the recent visit of Uzbekistan's president Islam Karimov to Moscow.
Russian president Boris Yeltsin and Karimov signed an inter-government agreement to establish an Uzbek-Russian consortium to develop, produce and market Ilyushin aircraft. The II-114 as well as the Il-76 freighter are produced by the TAPO plant in Tashkent, Uzbekistan. The consortium will include Ilyushin, TAPO and Voronezh-based VASO, which manufactures the Il-96 airliner.
The setting up of the consortium has been the subject of lengthy discussions, but until now lack of financing and differences between the various parties has held back the plans.
The Il-114 was first flown in March 1990, but the programme has stalled, mainly because of lack of funding. Now, with the new investment and backing pledges, there is renewed optimism the project may progress.
The new partners have already begun a three-week marketing tour of Russia.
Source: Flight International
