The board of Russia's United Aircraft Corporation (UAC) has given its leasing subsidary, the Ilyushin Finance Company (IFC), the go-ahead to acquire a 74% stake in local carrier, Red Wings (Russia)(WZ, Moscow Vnukovo). A UAC source told Russia's RIA news agency that IFC management are now set to vote in favour of the purchase.
The transaction, which was first announced by IFC's CEO Alexander Rubtsov in July this year, is part of a debt-for-equity swap. The size of the carrier's debt to the lessor has not been disclosed.
Red Wings' entire fleet of four SSJ 100-95s and nine Tu-204s is leased from IFC.
De Havilland Canada announced the delivery of the first of two Twin Otter Classic 300-G aircraft to Ethiopian Airlines, Africa’s largest airline.The aircraft will support Ethiopian Airlines&rsqu...
Embraer signed a new long-term agreement with the Brazilian Air Force to provide support solutions for its KC-390 Millennium fleet. The agreement strengthens the partnership between Embraer and t...
Dassault Aviation Falcon 10X has successfully completed its first flight, demonstrating the program’s maturity and marking the launch of the flight test campaign.Test Pilot Sébastien...
ProLogium announced the signing of a MoU with Elysian Aircraft BV, a Dutch aerospace company developing large-scale battery electric aircraft and core electrification technologies for aviation. U...
