FARNBOROUGH: Ilyushin Finance signs MoU to take Czech regional turboprops

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Ilyushin Finance has committed to taking up to 13 new aircraft from Czech-based manufacturer Aircraft Industries.

The Russian lessor has signed a memorandum of understanding to order 10 firm L-410 UVP-E20 regional turboprops and take options on three more.

It envisages receiving the 10 firm aircraft in 2013 and 2014, and possibly exercising the options in 2015.

The L-410 UVP-E20 is capable of carrying up to 19 passengers and landing on unpaved runways. Its cabin can be configured into passenger, cargo, VIP or medevac functions.

Ilyushin Finance cites the aircraft's low operational and maintenance cost as a "very significant feature for regional airlines operating on socially important routes", and is pitching short- or long-term lease arrangements to Russian airlines.

The tentative deal has a potential value in excess of $80 million.

Formerly known as LET, Aircraft Industries gained its current moniker when it was acquired by Czech private company PAMCO. In June 2008, Russia's Ural Mining and Metallurgical Company acquired a 51% stake.

Let 410