23:28 GMT +316 December 2018
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    Sukhoi receives state guarantees on RRJ loans

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    MOSCOW, December 26 (RIA Novosti) - The Russian government will provide state guarantees to aircraft manufacturer Sukhoi on loans worth 2.7 billion rubles ($93.82 million) for the implementation of its regional jet (RRJ) project, the government's press service said Monday.

    The company is taking a 1.4-billion ruble ($48.64 million) loan from Vnesheconombank and a 1.3-billion ruble ($45.17 million) loan from Vneshtorgbank for nine years with 9.25% interest.

    In December, Aeroflot, a Russian major air carrier, and Sukhoi Civil Aircraft, a subsidiary of the Sukhoi state holding, signed an $820-million deal for 30 RRJ planes.

    Although Sukhoi is probably better known for its military aircraft in the West, it hopes the RRJ will become the first Russian-made civilian plane to be successfully exported, with domestic and overseas sales reaching at least 800 by 2023. As the project involves major American and European aviation corporations, including Boeing, Snecma, Thales, Messier Dowty, Liebherr Aerospace, and Honeywell, the objective might well be accomplished.

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