OREANDA-NEWS. December 4, 2007. Alfa-Bank is planning to participate in the financing of a large-scale program of the IL-114 aircraft construction using the Chkalov Tashkent Aviation Production Association facilities — the largest aircraft construction association in the CIS and throughout the Asian and Pacific regions, the press service of Alfa-Bank announced.

Under the agreement Alfa-Bank shall finance the delivery of Russian-made component parts (engines and avionics) and provide advisory services to promote the IL-114 model in the aircraft services market.

The modern IL-114-300 shall replace some outdated domestic models in this class. Today, the total volume of the air carriage market served by this kind of aircrafts is assessed at 250 units. The level of comfort in the IL-114 economy class cabin is the best among other aircrafts — regular aviation carriers in Russia, and may be compared to those offered by other world airlines providing VIP services. The aircraft’ cruising speed is 500 km/h with a fuel consumption efficiency beyond those of other aircraft manufacturers. The fuel factor in the air carriage price usually takes up to 60%.

Alfa-Bank views Central Asia and India as its perspective regions for development. Last year, Alfa-Bank issued four letters of credit for the total amount over 100 million US dollars to an Indian pipe construction company. Under the deal the Indian counter party manufactured a large-diameter pipe transported from India to Syria for further construction of the Pan-Arabic gas line and a gas processing plant by one of the Bank’s corporate customers

"Economic cooperation with the major companies operating in Central Asia and India makes it possible for Alfa-Bank to strengthen its position in the markets and pass on to customers its unique experience gained by the Bank’s specialists in these regions," said Mikhail Nosko, senior vice president at Alfa-Bank.