Russian bank arranges financing for Cuban-bound An-158

Russia’s Roseximbank has signed an agreement with Ilyushin Finance Co. (IFC), a Russian leasing company, to provide $70 million in export financing for Antonov An-158 aircraft for Cubana de Aviación.

The agreement, signed at the MAKS Air Show in Moscow, follows a series of similar deals involving Russian-built airliners for Cuban carriers.

“Roseximbank has been cooperating with IFC on aircraft for Cuba for 10 years. Cuba’s carriers operate 14 Russian- and Ukrainian-built aircraft, including Ilyushin Il-96s, Tupolev Tu-204s and An-158s,” Roseximbank chairman Dmitry Golovanov said at the show.

Roseximbank has provided IFC with a total of more than $550 million in export financing.

At MAKS 2013, Cubana de Aviación transferred three An-158 options into firm orders and took delivery of its third An-158.