Russia’s Prime Minister Dmitry Medvedev has approved $400 million in state guarantees for Irkut MC-21 development. The guarantees secure Irkut Corp.’s obligations under the loan, issued by Sberbank, which extended a $1 billion line of credit for the project. According to the government, the MC-21 program is worth $3.497 billion.

The MC-21 is a medium-haul aircraft with an expected capacity of 150-210 seats. Irkut plans to assemble the first aircraft before the end of 2015.

When the program was launched, certification was planned for 2015, but was later postponed. The aircraft will be equipped with Pratt & Whitney PW1400 GTF engines.

MC-21 customers to date include Ilyushin Finance Co., Sberbank Leasing, VEB Leasing and Russian airlines. Transaero ordered six aircraft last year at the MAKS Airshow.