SCAC: Russia may occupy at least 10% of Chinese regional aircraft market

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Russia may well occupy at least 10% of Chinese regional aircraft market, TASS reports with reference to Senior Vice-President of Sukhoi Civil Aircraft Company (SCAC), Evgeny Andrachnikov.

“Over the next 20 years the capacity of Chinese regional aircraft market will be 1,300 vehicles. We must occupy at least 10% of this market. That is why we decided to establish a joint leasing company and gain support of Russian and Chinese financial institutions. Selling 100 aircraft in three years is a realistic and attainable goal in this situation,” he said.

Earlier on May 8th Russian and Chinese parties signed an agreement for establishing the joint Russian-Chinese leasing company. Over the next three years the lessor should purchase about 100 aircraft of the type worth around $3 billion and deliver them to China and Southeast Asia. The Russian-Chinese Committee on investment cooperation elaborated the draft agreement (the First Vice Premier of Russian Federation Igor Shuvalov heads the Committee on the Russian side). Andrachnikov noted that decision related to establishment of the lessor and defining its parameters was made within a short time.

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