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Vnesheconombank prices aircraft corporation bid

      RBC, 20.03.2008, Moscow 14:30:33.The Russian state corporation "The Bank for Development and Foreign Economic Affairs (Vnesheconombank)" is planning to spend RUB 30bn (approx. USD 1.27bn) to acquire 20 percent of United Aircraft Building Corporation (UABC) shares during an additional share issue, Vnesheconombank's Deputy Chairman Anatoly Ballo has reported. He also noted that the bank's stake in the leasing company Ilyushin Finance Co. could also be increased. According to him, it is more suitable for a financial organization to be in charge of leasing operations, which would allow UABC to focus more specifically on aircraft manufacturing. Ballo added that Vnesheconombank was interested in developing the leasing of Russian aircraft, as well as its sales abroad. The matter of expanding the geographic reach for leasing of Russian airplanes is currently under discussion, he said.

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