Rostechnologii (Russian Technologies) has paid US dollar 55 million deposit for the fifty 737 jets the state corporation buys from Boeing according to September 2010 contract. Sergei Chemezov, head of the corporation, told this to Moscow media earlier this week. 

A special leasing company has been set up to place these Boeings with Russian airlines. Chemezov further said the new lessor will also work with Airbus “in the future”. Meantime, the corporation is negotiating with Boeing on setting up a technical center that would service the newly purchased US jets. 

Rostechnologii awarded Boeing the above mentioned contact on September 17, 2010 during the Investment Forum in Sochi. It contains a firm order for 50 jets worth US dollar 3.7 billion in catalogue prices, and an option for 35 more aircraft. These shall come in two versions, the 737-800 and 737-900. Deliveries are scheduled for 2013-2016. Most likely the newly acquired aircraft will go to Aeroflot Group member airlines. 

Funding for the deal is being structured. It is expected that the lion’s part of the requisite funding will be provided by Russian commercial banks under US EXIM guarantees for some 80-85% of the contract value. Chemezov told journalists that the final contractual sum is being determined, while the figure of $3.7 billion has been accepted as a negotiation point. “Probably the final sum is going to be less, as we closely collaborate with Boeing”, he said. 

Rostechnologii launched international tender for 50+15 jetliners in 2009. Applications were filed in the time of MAKS’2009 airshow by Boeing, Airbus and United Aircraft Corporation. Boeing came first in that competition. Initially, the airplanes were intended for Rosavia airline that Rostechnologii wanted to create on the base of airlines whose assets were under control of Chemezov’s corporation. However, the minister for transportation Igor Levitin talked Russian prime minister Vladimir Putin into handing these assets over to Aeroflot. The respective decision was made in February 2010. Later this year Rostechnologii announced “priority right” for Aeroflot to take the jetliners being purchased from Boeing.