2005 BUDGET SHOULD INTEND GREATER CAPITALISATION OF AIRCRAFT LEASING COMPANIES - ALESHIN

Subscribe
VORONEZH, JUNE 24 (RIA Novosti) - In the 2005 budget, the government should provide 350 million dollars for increasing the capitalisation of aircraft leasing companies, Boris Aleshin, head of the Federal Industrial Agency, told the conference on aircraft manufacture. The conference, now under way in Voronezh (major aircraft maker, located in the Central federal district), is chaired by Prime Minister Mikhail Fradkov.

Aleshin said that in 2005 the capitalisation of aircraft leasing companies is to increase by a total of 500 million dollars, as agreed upon by all the involved agencies. Of this sum, the federal budget is to provide 350 million dollars, investments by state banks - Vneshekonombank, All-Russia Trade Bank, Russian Development Bank - can be from 100 to 150 million dollars, direct investments by Russian and foreign investors up to 100 million dollars, Aleshin said.

To him, Russia should be a worthy competitor on the global aircraft building market, which is to be achieved by Russia's having a large and strong leasing company.

Now, Russia has two leasing public companies - the Ilyushin Finance and the Financial Leasing Company.

In Aleshin's opinion, the leasing companies' capitalisation should be increased to 1,200 million dollars.

He is sure about the high profitability of aircraft leasing projects. As capitals are attracted from the markets, the federal budget will be replenishing the expenses from the sale of aircraft to be built during the period until 2010.

Aleshin also said that the potential members of the single aircraft-making corporation have come to an agreement on the way to create the corporation.

"Agreement has been reached between all the members, which are to pool their assets, including the property complex. These assets will form the basis for manufacturing trunk-route planes and military equipment", Aselshin said.

In his opinion, the single corporation will be a major step towards a higher quality of Russian aircraft and their becoming more competitive.

"Our aircraft makers are reproached for a low quality and substandard service. But, without large-scale production we will never be able to ensure the required quality and normal logistics", Aleshin said.

To him, in 2005 to 2010 Russia will need 140 new trunk-route planes.

Referring to the forecast of the Air Transport Agency, Aleshin said that the passenger carriage during this time will increase by 18 to 20 percent, which means that "during these years we will be able to meet the market demands".

Boris Aleshin thinks it necessary to make a 105-aircraft order for a start. This will call for 2,900 million dollars for the period until 2010. "It is important that the capital of aircraft leasing companies be increased to 1,200 million dollars", he noted.

Newsfeed
0
To participate in the discussion
log in or register
loader
Chats
Заголовок открываемого материала