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. Last Updated: 07/27/2016

Ilyushin to Buy Aircraft

Russian leasing company Ilyushin Finance has signed a deal with Canada's Bombardier Aerospace to buy 32 CS300 aircraft and options for an additional 10 CS300 aircraft, Bombardier said in a press release.

The transaction, which follows a letter of intent signed by IFC in 2011, is subject to approval by the company's shareholders. Based on the list price for the CS300 aircraft, a firm order from IFC for 32 aircraft would be valued at approximately $2.56 billion.

Should IFC also exercise its 10 options, the contract would have a total value of approximately $3.42 billion. Currently, 95 CRJ regional jets and Dash 8/Q-Series aircraft are in service or on order in Russia and the CIS.

In addition, Bombardier is also exploring opportunities for its Q400 NextGen turboprop aircraft in Russia. Reports said at the end of last year that the Q400 NextGen might be assembled at the Aviacor plant in Samara.

(MT)