Aeroflot clarifies leasing agreement with Rostec for 50 737NG aircraft

Aeroflot announced (20-Sep-2013) the declared sum of the airline's 12-year lease agreement with Rostec for 50 Boeing 737NG aircraft of USD7.47 billion is an overall price including the leasing contract itself, a six-year prolongation option, USD1.9 billion for technical maintenance reserve, cost of financing during the lease and coverage for all other risks which may appear. Aeroflot stated the insurance reserves for technical maintenance will not be charged and the airline will not necessarily require lease extension for six more years. This limits the final cost of the 12-year leasing contract for the 50 737 aircraft to USD3.5 billion which is USD700 million less than the estimated cost announced three years ago. [more - original PR] [more - original PR Russian]