A Commercial Aviation Consultancy

Bombardier announced that Moscow-based, national leasing company, Ilyushin Finance Co. (IFC), has signed a purchase agreement to acquire 32 CS300 aircraft and options for an additional 10 CS300 aircraft. The transaction, which follows a letter of intent signed by IFC in 2011, is subject to approval by the company’s shareholders. A signing ceremony to commemorate the agreement was held today during a visit by IFC and Russian dignitaries to Bombardier’s final assembly facility for the CSeries aircraft in Mirabel, Quebec.

Based on the list price for the CS300 aircraft, a firm order from IFC for 32 aircraft would be valued at approximately $2.56bn. Should IFC also exercise its 10 options, the contract would have a total value of approximately $3.42bn.

“The aircraft leasing world is changing rapidly,” said Alexander Rubtsov, Director General, IFC. “As older, less efficient designs present ongoing challenges to airlines – given high fuel costs and heightened environmental concerns – the CSeries aircraft offers transcontinental range, superior field and runway performance, and a superb cabin that will bring air transport into the 21st century.”  Mr. Rubtsov also noted that the order for the technologically advanced CSeries jetliners is its first large, non-Russian aircraft order, adding that the CSeries aircraft, with its capacity and performance, is ideally placed between the Russian Superjet and the MC-21 aircraft, which IFC has committed to purchase.

© 2013, Addison Schonland. All rights reserved.

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