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27.08.2013

EXIAR insures aviation equipment supplies to China

The Russian Agency for Export Credit and Investment Insurance (EXIAR) and AVIAHELP EXPORT have signed an export credit insurance contract for the supply of spare parts for Russian-manufactured aircraft to China. The document was signed by EXIAR CEO Peter Fradkov and AVIAHELP EXPORT General Director Yuri Ridzel during the first day of the XI MAKS 2013 International Aviation and Space Salon in the Moscow satellite town of Zhukovsky.

Under the agreement, EXIAR will insure AVIAHELP EXPORT deliveries of spare parts to the China National Technical Import and Export Corporation (CNTIC), covering against commercial and political risks. The export contract is for two years and is worth approximately USD 7 million.

The Russian Agency for Export Credit and Investment Insurance (EXIAR) was established in 2011 as an open joint-stock company. EXIAR’s mission is to support Russian high-tech exports by insuring export credits against commercial and political risks, as well as Russian investments abroad against political risks. Vnesheconombank is the sole shareholder of EXIAR. The agency's charter capital is RUB 30 billion.

AVIAHELP EXPORT is a subsidiary of AVIAHELP GROUP, which has been active in the aviation market since 1997, focusing on the delivery of parts for Russian- and foreign-made aeroplanes and helicopters to the CIS, Europe, North and South America, Africa and Asia.

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