IFC

Russian leasing firm Ilyushin Finance (IFC) has signed an agreement with Canadian plane manufacturer Bombardier to buy up to 32 CS300 aircraft, with an option to purchase a further ten.

The total deal is worth $3.42bn, making it one of the largest orders for CSeries to date.

The agreement, which follows a letter of intent signed by the IFC in 2011, is subject to approval by the company’s shareholders.

IFC director general Alexander Rubtsov said the aircraft leasing world is changing rapidly.

"As older, less efficient designs present ongoing challenges to airlines, given high fuel costs and heightened environmental concerns, the CSeries aircraft offers transcontinental range, superior field and runway performance, and a superb cabin that will bring air transport into the 21st century," Rubtsov said.

Rubtsov also noted that the deal for CSeries jetliners is its first large, non-Russian aircraft order.

"As older, less efficient designs present ongoing challenges to airlines, given high fuel costs and heightened environmental concerns, the CSeries aircraft offers transcontinental range, superior field and runway performance."

Bombardier Commercial Aircraft president Mike Arcamone noted that the CSeries aircraft has the potential to offer a step-change in air travel in Russia and throughout the Commonwealth of Independent States (CIS).

Around 95 CRJ regional jets and Dash 8/Q-Series aircraft are currently either in service or on order in Russia and the CIS.

Bombardier is looking for opportunities for its Q400 NextGen aircraft in Russia.

Designed to seat 100 to 149 passengers and powered by Pratt & Whitney PurePower PW1500G engines, Bombardier claims that the CSeries aircraft family will offer a 15% cash operating cost advantage and a 20% fuel burn decrease.

In November 2012, Bombardier said that it would push back the first flight of CSeries jets by six months due to supplier issues. However, the company now intends to conduct the maiden flight by the end of June this year.

The Canadian firm booked orders and commitments for 382 CSeries, including firm orders for 148 jetliners by the end of December 2012.

Image: Ilyushin Finance’s purchase agreement for 42 CS300 jetliners is its first large, non-Russian aircraft order. Photo: courtesy of Bombardier.

Defence Technology