Aviation Expo: Russian firm bets big on India

HYDERABAD: Irkut Corporation, a Russia-based aircraft manufacturer, is betting big on India. The company, which will deliver its first MC-21 passenger aircraft in 2017, said it was targeting t

Published: 16th March 2012 03:09 AM  |   Last Updated: 16th May 2012 06:36 PM   |  A+A-

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Kirill Budaev, vice president, sales and marketing of Irkut Corp, Russia, posing for the media.

HYDERABAD: Irkut Corporation, a Russia-based aircraft manufacturer, is betting big on India. The company, which will deliver its first MC-21 passenger aircraft in 2017, said it was targeting to sell about 200 such short to mid-range aircraft in India by 2030. “India is a strategic market for us and with the historical ties, we could sell between 100 to 200 MC-21s by 2030. We see the potential in the Indian aviation market with the number of new passengers going up,” said Kyrill Budaev, vice-president, Irkut Corporation.

He added the company, which is looking for local partnerships to facilitate sales, was negotiating with some Indian carriers. “One order may come next year and in the near future, we will have a sales team in India,” he said.

Globally, it has signed contracts for the delivery of 235 MC-21 aircraft with 128 orders coming from Russia and the remaining from other markets. MC-21 is an environment-friendly aircraft and offers 12-15 percent operational cost reductions and fuel burn reduction of 23 percent.

It also offers better operational costs besides ensuring comfort for passengers. While a similar Airbus or Boeing aircraft of the same size is priced between $90 million and $100 million, MC-21 comes with a price tag of about $70-$80 million. Irkut’s revenue exceeded $1.6 billion in 2011 while the order portfolio is $6.1 billion.

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