VEB-Leasing, a subsidiary of one of Russia's largest banks, Vnesheconombank (VEB), may replace Russian State Technology Corporation Rostekhnologii in a $2.5 billion contract to lease 50 Boeing passenger planes for the country's flagship carrier Aeroflot, Kommersant business daily said on Friday.
The paper quoted a government source as saying that Rostekhnologii did not have enough time to set up its own leasing company for the contract, which was to be signed no later than November 2010.
In May, Boeing won a Rostekhnologii tender to supply it with 50 new narrow-bodied planes and an option to supply 15 more.
Kommersant said that Rostekhnologii confirmed that VEB-Leasing was participating in the project, adding that it had not dropped plans to set up a leasing company. VEB sources also confirmed the information, but there were no official comments from VEB or VEB-Leasing.
VEB-Leasing was chosen because VEB will provide a quarter of financing for the transaction, with U.S. ExImbank being the largest lender, Kommersant quoted the government source as saying.
The source also told Kommersant that during President Dmitry Medvedev's recent visit to the United States, Boeing and Rostekhnologii had signed an memorandum of mutual understanding under which Rostekhnologii accepted Boeing`s offer to supply planes. A similar document was signed between VEB and Eximbank.
Oleg Panteleyev, head of the Aviaport agency analytical department, said the government made the right step in passing the contract over to VEB.
"VEB offers very good terms of financing and its subsidiary VEB-Leasing is widening its leasing portfolio actively, and in the aviation sphere too," he said.
Yevgeny Shago, head of the Ingosstrakh investment company analytical department, explains the dropout of Rostekhnologii by political reasons.
"Foreign aircraft supplies are not the function of Rostekhnologii and it does not relate to goals of the state corporation to support and develop local industry," he said.
MOSCOW, July 16 (RIA Novosti)
