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IFC obtains long-terms loans from Sberbank and Vnesheconombank



In October, the largest Russia’s state banks decided to grant loans to OAO Ilyushin Finance Co. (IFC), for the total amount of RUR 5 930 mln for the purpose of purchase of Tu-204 and An-148 jets from the United Aircraft Corporation (OAK) Open Joint Stock Company. Sberbank of Russia opened a credit line for RUR 2 930 mln for the purpose of purchase of Tu-204 medium-haul aircrafts produced by Aviastar-SP, Ulyanovsk aircraft factory, and Vnesheconombank approved provision of 3 billion Roubles for purchase of the regional An-148 aircrafts produced by Voronezh Joint Stock Aviation Construction Association (VASO). The credit facilities are obtained for the period from 7 to 10 years. 

This is exceptionally important both for IFC and for the entire Russia’s air industry. The raised funds allow to provide air factories with permanent orders for new aircraft engineering devices and to develop serial production of the basic products of today’s home civil aircraft industry: Tu-204 aircrafts and the brand-new An-148 regional jets.