Malev Considers Superjet Order

Malév Hungarian Airlines plans to upgrade its current Bombardier CRJ and Fokker fleets and is studying Sukhoi’s SSJ100 regional jets with the possibility of acquiring 15. In the meantime, the company signed a four-way agreement with Sukhoi, Vnyesekonom Bank, the Bank for Development and Foreign...

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Malév Hungarian Airlines plans to upgrade its current Bombardier CRJ and Fokker fleets and is studying Sukhoi’s SSJ100 regional jets with the possibility of acquiring 15. In the meantime, the company signed a four-way agreement with Sukhoi, Vnyesekonom Bank, the Bank for Development and Foreign Economic Activities of the Russian state, and Russia’s AiRUnion to form strategic cooperation and financing opportunities. Vnyesekonom Bank focuses on financing investment opportunities, and, according to a contract with Sukhoi, funds Superjet 100 sales. Vnesheconombank will arrange sales funding for both the domestic and overseas markets, including leasing subsidiaries, foreign loan institutions and export agencies. The agreement also covers the structure of financing aircraft supplies for Aeroflot - Russian Airlines.
Sukhoi has also contracted with Russia's state-run bank, Sberbank, for a 10-year loan worth 100 million euros ($134 million) to finance the Superjet 100 regional aircraft project. The loan will be used to purchase equipment and modernize production capacity, and also to start serial production and sales of the aircraft.
The Malév, Sukhoi, AiRUnion, Vnyesekonom agreement, signed December 7, extends five years and is part of an effort to expand Hungarian-Russian economic relations which could mean a large expansion in the Russian market in cooperation with AiRUnion, Russia’s second largest carrier. Malév already has direct Russian services, but the agreement paves the way for new direct flights, partly with Russian partner airlines, affording only one-transfer service between Hungary and all Russian markets.
Malév is also building a Superjet maintenance, repair and overhaul facility in Hungary to service the 90- to 120-seat Superjets.
In other news, Sukhoi Civil Aircraft and the Armenian airline Armavia signed a contract recently to supply two Sukhoi Superjet 100/95 LR airplanes with an option agreement for another two aircraft. Russian VTB Bank will finance the deal that brings to 73 the number of Superjets on order, with an additional 41 options. First delivery is expected in 2008.