EXIAR develops unique product to promote Sukhoi Superjet abroad
The Russian Agency for Export Credit and Investment Insurance (EXIAR) and the United Aircraft Corporation (UAC) are to develop a special export credit insurance programme by the beginning of next year for foreign customers buying Sukhoi Superjet 100 (SSJ-100) planes. The programme will be tailored to the individual needs of the financial institutes involved in financing exports of the SSJ-100.
The relevant Memorandum of Strategic Cooperation was signed by EXIAR CEO Peter Fradkov and UAC President Mikhail Pogosyan 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 develop a new product to promote exports of SSJ-100 planes. This will involve offering expanded coverage against the commercial and political risks associated with export credits for the supply of aircraft.
The product will make SSJ-100 planes a more competitive purchase option.
The parties also agreed to establish a strategic partnership to support the UAC’s other export activities.
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.The United Aircraft Corporation (UAC) was established in 2006 as an open joint-stock company. The activities of the UAC and its businesses are focus on the development, production, sale, operational maintenance, warranty and service maintenance, upgrading, repair and recycling of civil and military aircraft.