Ilyushin Finance Enters Business Aviation Market

 - September 13, 2013, 10:50 AM

Ilyushin Finance Co. (IFC) is entering the business aviation market with plans to have some of the airliners it has on order for its lease portfolio outfitted with VIP interiors. For the most part, the aircraft to be offered for lease for private and corporate clients will be Russian-made airliners, such as the Tupolev Tu-204 and Antonov An-158, but IFC also has orders for new aircraft such as Sukhoi’s Superjet SSJ-100 and Irkut’s MC-21. IFC spokesman Andrei Lipovetsky told AIN that the move into the business aviation sector is in line with the group’s strategy of providing comprehensive, and sometime non-standard, solutions to clients. It recently reached an agreement for Novikombank to provide financing for a new Russian-made helicopter to be used for corporate transportation.

This month IFC placed its 50th aircraft, a 98-seat An-158, placed with Cuban airline Cubana de Aviacion. Previously IFC has delivered a number of transports to this customer, including Ilyushin Il-96 widebodies outfitted with a VIP cabin for the country’s leaders. At last month’s Maks airshow in Moscow IFC signed follow-on deals with Cubana for three more An-158s, bringing the total to six. It also signed an order with Irkutsk-based airline Angara airline for two more of the same type, adding to the three An-148-100Es that it already operates. At the same show, IFC signed deals covering orders for the MC-21, the Tu-204SM and Bombardier’s Q400 NextGen twin turboprop. The lessor has converted options for 22 MC-21-300s into firm orders, taking its total commitment for the new narrowbody to 50 and a combined contract value of $3.5 billion.