The Russia Journal

Russia's Ilyushin Finance leasing company has signed a deal with Transaero airline to finance the carrier's purchase of 10 new Tupolev 204-100 passenger jets for $15 million each, Ilyushin's chief said.

Alexander Rubtsov said the deal was signed on Tuesday and called for completion and delivery of the first three planes from southern Russia's Aviastar plane maker in 2001, three in 2002 and the remaining four in 2003.

"Each month, Transaero will pay Ilyushin Finance a bit less than $300,000 and each plane will cost the airline $15 million, vs. an international price of $20-25 million," Rubtsov said.

He said the planes, which will be powered by Perm Motors engines, were being discounted for Transaero because their construction had been started for a different client.