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First Contract against Government Guarantees for the Delivery of Two Il-96 Aircraft to Cuba Will be Carried out in 2005 - Vnesheconombank

16 june 2005 года
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Saint Petersburg, June 16. /Corr. ITAR-TASS/. The first contract against government guarantees for the delivery of two Il-96 aircraft to Cuba will be carried out in 2005. Vnesheconombank Chairman Vladimir Dmitriev told about it today at the 9th Petersburg economic forum. According to him, the amount of the deal is equivalent to 90 million dollars.

Mr. Dmitriev also said that the 2005 budget envisages allocating 600 million dollars for government guarantees to promote national exports as well as - an equivalent of 100 million dollars to subsidize interest rates, PRIME-TASS reported.

An agreement on the delivery of two wide-body long-distance Il-96-300 aircraft for the Cuban airline Cubano Aviasion incorporated in Cuba's state-owned civil aviation corporation /CACSA/ was signed in 2004 by the leasing company "Ilyshin Finance CO" and by Cuba's foreign-trade company "Aviaimport". The agreement is being implemented within the framework of the government concept of promoting Russian industrial exports.

"Ilyshin Finance Co." acts as the aircraft exporter on the Russian side monitoring all stages of aircraft assembly at the Voronezh aircraft construction joint stock company. The airliners are planned to be operated in two modes: on a day-to-day basis as normal passenger aircraft of the Cubana Airline and, if necessary, they will be equipped with VIP- saloon to serve Cuban President Fidel Castro.
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