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Manufacturers band together with Russian firms

By Hpanchal on August 18, 2011

Airbus and the Russian firm VEB-leasing have pledged to cooperate on aviation management and finance, sharing competencies, experience and information about topics ranging from portfolio asset management to structuring lease transactions. A Russian manufacturer, United Aircraft Corporation, has also signed a deal of its own, linking up with Strategic Aviation Solutions International to promote Russian freighters around the world.

Both deals were signed during the MAKS 2011 International Aviation & Space Salon in Moscow.

According to an Airbus statement, VEB, as part of the agreement, will give Russian airlines financial and leasing support "in areas such as pre-delivery payment financing of Airbus aircraft, delivery financing of new and used Airbus aircraft and financing with the support of European export credit agencies."

The agreement is meant to more easily help Russian airlines upgrade their older planes, officials said.

“Our cooperation with VEB-Leasing will contribute to further developing the operating and financial lease market in Russia and the Commonwealth of Independent States. It will also help airlines in the region receive full-scale and innovative financial solutions. We remain committed to helping our customers find the most efficient and competitive ways to finance the deliveries of their Airbus aircraft," Christopher Buckley, the manufacturer's executive vice president, Asia and the Pacific, said in a statement.

Strategic Aviation Solutions International help development of aircraft specifications and initiate marketing and business strategies for UAC. Finding niche markets for the freighters will also be part of the firm's job.

“The agreement is a very good thing for both parties, and we jointly believe that by working together, we can take great strides forward in the promotion of Russian freighter aircraft around the globe," Stan Wraight of SASI said in a statement.

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