VEB Bank to lend $44.5 mln for Tu-204 sale to Cuba
Russia’s state-owned Development Bank (Vneshekonombank) has agreed to loan a subsidiary of the Cuban national airline $44.5 million to buy a Russian cargo plane, VEB said in a statement Tuesday.
VEB, the Ilyushin Finance leasing company and Cuba’s Aviaimport S.A. signed Tuesday an agreement of intent to issue the 12-year loan to finance the purchase of one Tu-204CE and related equipment under an export contract between Aviaimport S.A. and Ilyushin Finance Co. VEB said industrial export was a major field of its investment activity.
Aviaimport S.A. is a subsidiary of Cuba’s state-run CACSA airline, which handles domestic and international passenger and cargo flights. The Tu-204CE, a cargo version of the Tu-204, is a twin-engine medium-haul airplane. The aircraft made its maiden flight in late 2006.
Since 2005, Cuba has received six Russian aircraft - three Il-96-300 passenger airliners, two Tu-204-100 passenger planes, and an initial Tu-204CE cargo plane. A number of agreements, including on the purchase of Tu-204 passenger airliners and An-148-200 regional jets, were signed during a recent visit by a Russian delegation to Cuba. (rian.ru)
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.