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IFC may reconsider the contract for delivery of Bombardier aircraft

Russian Aviaton » Wednesday April 29, 2015 18:31 MSK
Bombardier CS300 | Photo courtesy by Bombardier press-service

Ilyushin Finance & Co. leasing company (IFC) may reconsider the contract for delivery of 39 Bombardier CSeries aircraft (total list price is over $3 billion) as well as option for 10 jets of the type, RIA Novosti reports with reference to IFC CEO Alexander Rubtsov.

In February 2013 IFC placed an order for 32 CSeries 300 aircraft with an option for 10 more jets of the type. At that time Bombardier set the list price of one jet at $80 million. In July 2014 the lessor placed a follow-on order for seven more jets of the type at Farnborough airshow (the deal was not announced due to possible sanctions), and the option for 10 CSeries jets remained. So the Russian company is one of the largest launch customers for this new aircraft.

“We are really thinking about reconsidering our participation in this program due to multiple changes in delivery dates made by the manufacturer and decision to cut off the export financing for Russian companies made by Export Development Canada (EDC),” Rubtsov told RIA Novosti.

In August 2014 Canada tightened sanctions on Russia by including 19 persons and 22 organizations in its sanctions list, including the Bank of Moscow, Russian Agricultural bank, Russian National Commercial Bank and VTB Bank.

Bombardier CSeries is the family of medium-haul single-aisle aircraft manufactured in Canada. It is planned to manufacture CS100 jets seating 110 passengers and CS300 liners – 130 passengers. The aircraft’s maiden flight was scheduled for the second half of 2012, and then rescheduled to June 2013, but in the end it was performed in February 2014. Delivery of the first CSeries jet to a customer was scheduled for 2014 and then rescheduled for the second half of 2015.