Ilyushin Finance signs LoI for 50 Q400s

Ilyushin Finance Corporation (IFC) has signed a letter of intent (LoI) to acquire 50 Q400 NextGen airliners.
The plan is for these to be assembled in Russia under a joint venture being discussed by Bombardier and Rostekhnologii (Rostec). This announcement follows one made earlier relating to potential industrial co-operation between Bombardier and Rostec over the establishment of a Q400 final assembly line in Russia.
The series of preliminary agreements between Bombardier and Rostec included an LoI for the sale of 50 Q400 NextGen aircraft; a market development agreement with Rostec and its aircraft leasing subsidiary, Avia Capital Services, that will provide an opportunity to place at least 50 additional Q400 NextGen aircraft in the region; and a Memorandum of Understanding (MoU) for industrial co-operation to consider a Q400 NextGen final assembly line in Russia.
Should the MoU lead to the establishment of a final assembly line in Russia, the aircraft that IFC intends to buy would be locally assembled and, together with aircraft to be acquired by Rostec, make up a total of 100 Q400 NextGen aircraft that would be built in Russia for Russian customers.
"Our intent to purchase 50 Q400 NextGen aircraft and our recent firm order for 32 Bombardier CS300 aircraft will provide local operators with the potential to expand regional travel with aircraft that are complementary to the latest Russian-built aircraft which illustrates our strategy to find the best portfolio of products for our customers," explained Alexander Rubtsov, director general, IFC.
"The LoI signed with IFC is a testimony to the Q400 NextGen aircraft's suitability as well as its increasing diversity of customers and capacity to open new markets," remarked Mike Arcamone, president, Bombardier Commercial Aircraft. "Building on the outstanding capability and heritage of the Dash 8 aircraft – which has a strong installed base in Russia – we have developed a technologically advanced airliner in Toronto that has reinvigorated the turboprop world and is catalysing new business opportunities. We look forward to working with IFC and Rostec to help develop a modern aerospace cluster in Russia."

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