VOLGA-DNEPR SIGNS FOR NEW AN-124-100M

Farnborough. On July 24th 2002 at Farnborough International Salon Alexey Isaikin, Volga-Dnepr's Chairman, and Valery Savotchenko, Aviastar-SP's executive director, signed an agreement to build a new An-124-100M at the Ulyanovsk-based Aviastar plant. The aircraft, which will be the tenth in the company's fleet, is scheduled for delivery in the fourth quarter of 2003.

The agreement will be financed by credit from the International Finance Organisation (IFC). The US$29.9 loan agreement between Volga-Dnepr and IFC was signed in Moscow on July 5th, 2002.

"Rising demand for the airline's services has made the expansion and modernisation of our An-124-100 fleet a top priority. The company's success in the global outsize air cargo market, its irreproachable business reputation and credit history helped in attracting serious financing and allow Volga-Dnepr to invest in the production of new aircraft", said Alexey Isaikin, Chairman of Volga-Dnepr.

"Today's agreement between Volga-Dnepr and Aviastar SP is unique. This is the first time that an international finance organisation has financed a Russian airline, which is investing money in aircraft construction", Valery Savotchenko, Aviastar's executive director said during the signing ceremony.

The new An-124-100M model will have an extended service life of 24,000 flight hours and will comply with ICAO Chapter IV noise and emissions regulations. The An-124-100M will be equipped with a new avionics suite including Russian-built Orlan 8.33 KHz-spaced VHF radios, Allied Signal TCAS-2000 as well as RVSM and BRNAV-5 systems. Payload of the new An-100M modification will be increased up to 150 tonnes, and maximum take-off weight to 402 tonnes.

Currently Volga-Dnepr Airlines in co-operation with Antonov Design Bureau is preparing for further An-124-100 modernisation. For example, the aircraft is planned to be fitted with the increased accuracy BRNAV-1 and with Terrain Avoidance Warning System.

Under a strategic development plan Volga-Dnepr has turned today into an international group of companies with offices and subsidiaries all over the world, including Great Britain, USA and China. Volga-Dnepr is aimed at promoting outsize and superheavy air cargo transport on the international market as a unique product using the outstanding Antonov An-124-100 freighter. The airline leads in market share of international outsize air cargo. The company has nine An-124-100s, one Ilyushin Il-76 and 1,200 employees.