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.
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.