Innovative funding from financing banks allows customers to deposit for discounts (230 words)

Published: 11/14/2000

The new Tu-214 has flow to China via Khabarovsk on its first long haul flight, carrying Vasily Alexandrov, General Director of ANTK Tupolev, Nail Khairullin, General Director of KAPO, and the Chief Designer of the Tu-214 Yury Vorobyev. Currently there are two aircraft being constructed at KAPO for Dalavia in Khabarovsk to be delivered by April next year, the second following in June 2001; funded by a regional government guaranteed leasing structure managed by the Financial Leasing Company. KAPO, the aircraft's producer, is reported to have already received from $5m from the eight-year lease deal, which will give Dalavia ownership of the aircraft at the end of the period. According to Pavel Sevastyanov, General Director of Dalavia, the aircraft will be used on the route Khabarovsk-Moscow, replacing the Il-62 used on the route and with the intention of increasing the airline's reported 50% share of the route. The reported costs of the Dalavia lease is $62m and involves funding from a number of regional banks including the Khabarovsk affiliate of Sberbank, Dalcombank, and Rosbank. According to Vladimir Fevralev, General Director of the Zheleznodorozhny affiliate of Dalcombank, the bank is so confident of its financing of the deal it has launched a Dal-Com-Avia deposit account product, solely for the construction of the aircraft. Depositors in the account will be given airfare discounts by Dalavia of 10% to 50% depending on the size of deposit.

Article ID: 2196