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Russian government to give $77 million to state lessor

The Russian government will add RUB5 billion ($77.1 million) in funding to the State Transport Leasing Co. (STLC), ATWonline reported.

“RUB4 billion will be spent on the Sukhoi Superjet 100 program and RUB1 billion will be spent on Let L-410 program,” Russian news agency TASS reported, quoting the minister of industry and trade Denis Manturov.

Russia’s Ural Works of Civil Aviation (UWCA) plans to assemble first four L-410 aircraft before the end of the year, Manturov added. 

The L-410 is manufactured by Kunovice-based Czech Aircraft Industries, but earlier this year it was announced that UWCA would start the aircraft manufacturing. In 2008, Russia’s industrial holding company, Ural Mining and Metallurgical Co. (UMMC), acquired 51% of Aircraft Industries. In 2013, the UMMC became the 100% owner of the company.

Last year, the government increased STLC capital by RUB30 billion, which it said would allow the lessor “to raise funds for acquisition and ensuing lease out of aircraft to Russian carriers,” according to a statement. 

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URL: http://www.ruaviation.com/news/2016/9/14/6868/?h