Sukhoi aims to develop an export financing package for the Superjet 100 regional jet that mirrors the government-backed financing offered by Bombardier and Embraer.
Superjet International's new vice-president of structured finance James Beamish says the Sukhoi-Alenia joint venture is now working with the Russian government to establish an export credit package for potential customers of the Sukhoi-built regional jet.
"We expect to have the same export credit as Bombardier and Embraer," Beamish told Commercial Aviation Online's US Valuation Conference in Washington DC.
He adds Russia needs to come up with a scheme so Sukhoi can compete on a level playing field with Embraer and Bombardier. Embraer traditionally lines up financing from Brazilian government-owned development bank BNDES while Bombardier works with trade development body Export Development Canada.
"We won't be at a competitive disadvantage. That's not something our customers will stand for," Beamish says.
Venice-based Superjet International is responsible for selling the aircraft in overseas markets as well as completing, delivering and supporting those aircraft acquired by Western customers. So far three Western customers have committed to acquiring the Superjet, the first of which was ItAli Airlines in 2007. Beamish says financing for ItAli Air's Superjet fleet has not yet been arranged and will likely not be completed until a few months prior to first delivery.
Source: Flight International