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Superjet-100 Struggles over Poor Funding - Paper

© Photo : Marina LystsevaThe development of Russia’s Sukhoi Superjet SSJ100 airliner may be postponed because of the lack of state funding
The development of Russia’s Sukhoi Superjet SSJ100 airliner may be postponed because of the lack of state funding - Sputnik International
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The development of Russia’s Sukhoi Superjet SSJ100 airliner may be postponed because of the lack of state funding, Vedomosti business daily reported on Monday citing the Audit Chamber’s report.

The development of Russia’s Sukhoi Superjet SSJ100 airliner may be postponed because of the lack of state funding, Vedomosti business daily reported on Monday citing the Audit Chamber’s report.

According to the daily, there is not enough money allotted for the development of the Superjet-100 in the federal budget. The current poor funding may put the aviation project on the brink of bankruptcy, the daily said.

Between 2003 and 2010, 16.9 billion rubles ($563 million) was invested into Superjet’s producer, Sukhoi Civil Aircraft and the NPO Saturn, Superjet engine’s manufacturer, while 27.1 billion rubles ($903 million) came from non-budget funds, Vedomosti reported, citing the Audit Chamber’s report.

The production of the Superjet aircraft, without an engine, cost the government 12.4 billion rubles ($413 million) and 20.3 billion rubles ($676 million) from non-budget investors.

However, when the aircraft was certified in 2011, the government cut the funding since the planes approved for flying do not have the right to receive state funding anymore, according to the daily.

Now Superjet may lose its contract obligations with the plane’s potential buyers since it had not produced the planned number of engines because of financial difficulties, Vedomosti said.

The government is considering offering 15-20 billion rubles ($500-$666 million) of bonded low interest rate loans for the aircraft’s producers, a source from the Russian Ministry of Industry and Trade told Vedomosti daily.

“We are aware that these companies [Sukhoi Civil Aircraft and the NPO Saturn] have no other financial sources. Unlike Boeing and Airbus, they do not have other lucrative projects to cover the expenses on implementing the new ones,” Vedomosti quoted the source in the ministry as saying.

Sukhoi Civil Aircraft declined to comment when contacted by RIA Novosti.

On May 9, the Superjet-100 slammed into an Indonesian mountain when it was on a short demonstration flight for potential buyers. All 45 people on board were killed.

The Superjet 100 is a short-medium haul passenger aircraft developed by Sukhoi in cooperation with U.S. and European aviation corporations, including Boeing, Snecma, Thales, Messier Dowty, Liebherr Aerospace and Honeywell.

The aircraft is capable of carrying up to 100 passengers for up to 4,500 kilometers. Sukhoi has received over 200 firm orders for Superjet 100 airliners so far.

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