Moscow-based leasing company Ilyushin Finance Co.'s shareholders have approved its conditional purchase agreement with Bombardier Aerospace for CS300 jetliners and the deal is now...

Moscow-based leasing company Ilyushin Finance Co.’s shareholders have approved its conditional purchase agreement with Bombardier Aerospace for CS300 jetliners and the deal is now a firm order.

The order covers the acquisition of 32 Bombardier CS300 aircraft and options for an additional 10 CS300s. The deal follows a letter of intent signed by IFC in 2011 and a conditional purchase agreement announced by Bombardier on February 20 this year.


Based on the list price for the Bombardier CS300, the manufacturer values the firm order at approximately US$2.56 billion. Should IFC also exercise its 10 options, the contract would have a total list-price value of approximately US$3.42 billion.

On February 20, 2013, Moscow-based lessor Ilyushin Finance Company signed a conditional purchase agreement for 32 Bombardier CS300 jets and took options on 10 more. The leasing company's shareholders approved the order and on June 4, 2013 IFC signed a firm deal with Bombardier

On February 20, 2013, Moscow-based lessor Ilyushin Finance Company signed a conditional purchase agreement for 32 Bombardier CS300 jets and took options on 10 more. The leasing company’s shareholders approved the order and on June 4, 2013 IFC signed a firm deal with Bombardier

 

“Operators in the Commonwealth of Independent States (CIS), as well as those based in other parts of the world, have expressed interest in acquiring the CSeries aircraft since older, less-efficient aircraft designs are presenting ongoing challenges because of high fuel costs and heightened environmental awareness,” says Alexander Rubtsov, director general of IFC.

“With its clean-sheet, advanced technology design, the CS300 jetliners will help to alleviate these concerns, while offering excellent range, superior field and runway performance, and a superb cabin that will bring airline transport into the 21st century,” adds Rubtsov.

Rubtsov also says the Bombardier CSeries, with its capacity and performance, is ideally placed between the smaller Sukhoi Superjet and the larger-capacity Irkut MS-21, which IFC has committed to purchase.

Additionally, Rubtsov confirms IFC will make available Bombardier CS300s with the extra-capacity seating option (which allows up to 160 passengers to be carried) to international operators interested in higher-density configurations.

“This is a landmark order for Bombardier Aerospace and its CSeries aircraft, as well as for this premier Russian leasing company,” says Mike Arcamone, president of Bombardier Commercial Aircraft. “IFC’s order confirms that the CSeries aircraft is ideal for a step-change in air travel throughout the CIS and elsewhere in the world.”

Firming of the IFC order increases the total firm orderbook for the Bombardier CSeries family to 177 aircraft and the manufacturer holds lesser commitments for an additional 211.

Currently, 95 Bombardier CRJ regional jets and Dash 8/Q-Series aircraft are in service in or on order for customers in Russia and the CIS.

In addition, the Canada-based manufacturer is also exploring sale opportunities for the Bombardier Q400 NextGen turboprop aircraft in Russia and the CIS.

The sales campaign follows the aircraft type approval awarded the Q400 in June 2012 by the Interstate Aviation Committee (IAC) − commonly known by its Russian acronym, MAK − and subsequent entry into service of a Q400 by Yakutia Airlines from the airline’s base in northeast Russia.