The Russian government has approved the allocation of 283 billion rubles from the National Wealth Fund to invest in Rostec State Corporation for the production of 609 civil passenger airplanes by 2030. The loan from the NWF will account for 28% of the total budget of the program, which is fully estimated at one trillion rubles.
The corresponding document is published on the website of the Cabinet of Ministers. It is noteworthy that the Government’s decision does not apply to the increased production of the IL-96-400M airplane, instead of which it is planned to produce the IL-96-300 version.
The funds will be allocated in the form of a soft loan at 1.5% per annum from the IV quarter of 2023 to the IV quarter of 2024. The funds will be used to expand the production capacities of the state corporation’s aircraft manufacturing enterprises – UAC, UEC, Technodinamika, Radioelectronic Technologies Concern and Russian component manufacturers, as well as to purchase equipment, carry out import substitution, create an after-sales service system and stockpile spare parts.
The goal of the investment is to produce 609 civil aircraft by 2030: 142 SJ-100, 270 MS-21-310, 70 IL-114-300, 115 Tu-214 and 12 IL-96-300. According to the government’s program for the development of the country’s aviation industry, these new aircraft will gradually replace foreign airliners in the fleets of Russian air carriers.
The first deliveries of import-substituted SJ-100, MS-21-310 and Tu-214 aircraft to Aeroflot Group are expected to begin in 2024-2025.
The volume of domestic and export markets until 2040 is estimated by the Russian Cabinet of Ministers at 1,869 aircraft, of which SJ-100 – 342 aircraft, MS-21 – 990, Il-114-300 – 190 aircraft, Tu-214 – 315 and Il-96-300 – 32 airliners.
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