Support The Moscow Times!

Aeroflot Gets $1.26Bln to Buy Boeings

VEB Leasing has concluded a $1.26 billion deal to finance Aeroflot's acquisition of four Boeing 777-300ER airliners, the airline said.

VEB Leasing is a subsidiary of state lender VEB.

The aircraft will be supplied from January to April 2013. The acquisition is part of an Aeroflot agreement to buy six Boeing 777-300ER aircraft and eight Boeing 200ER planes that was concluded in March 2011.

Andrei Rozhkov, an analyst at Metropol, said the contract was a profitable deal for Aeroflot. Usually airlines have to wait longer for Boeing supplies, he said.

Aeroflot could use the new aircraft to operate flights in the peak traffic period during the 2014 Winter Olympics in Sochi, Rozhkov said.

The Boeing contract will help Aeroflot in its future negotiations with Airbus, Rozhkov said, adding that the airline would have more leverage in talks with Boeing's main competitor.

Currently, Aeroflot has eight Boeing 767-300ER aircraft, according to the company's website.

Boing 777 airliners are the world's largest twin-engine jets. They also have the biggest turbofan engines of any aircraft.

The Boeing 777 is Boeing's first fly-by-wire airplane and its first entirely computer-designed aircraft.

Boeing 777-200ERs are used for international flights. They have a capacity of 327 passengers and a range of 13,400 kilometers.

The Boeing 777-300ER has a capacity of 365 passengers and a range of 14,685 kilometers.

Read more