Russian Trade Minister Viktor Khristenko expressed hope on Monday that French companies would participate in the production of the Russian MS-21 medium-haul passenger aircraft.

The MS-21 is being developed by Russia's major manufacturing companies Ilyushin, Tupolev and Yakovlev. The new plane will replace the aging Tu-154, which currently accounts for some 80% of Russia's passenger and freight traffic.

"French companies have a great opportunity to join the MS-21 project. We hope that the French firms will accept the risks related with the project and become partners with us," Khristenko said during a Moscow-Paris video conference hosted by RIA Novosti.

The MS-21 airliner, which is expected to perform its maiden flight in 2015, should go on stream in 2016.

The minister said Russian experts had finished the draft design of the plane, and the project was on schedule.

"We expect to market the plane in 2016," Khristenko said adding that a mockup prototype model of the plane would be exhibited at the Russian National Fair at Grand Palais in Paris on June 11-15 this year.

The single-aisle MS-21 family of passenger aircraft is designed to seat between 150 and 220 passengers and to fly up to 5,000 kilometers (3,125 miles).

The new passenger jet is expected to be 10-15% more efficient than the equivalent Boeing and Airbus aircraft while its target price will be just $35 million, which is $20 million less than the similarly-sized Boeing 737-700.

MOSCOW, May 31 (RIA Novosti)