Russian govt to extend interest rates on aircraft through 2023

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Russian govt to extend interest rates on aircraft through 2023

Russian govt to extend subsidies for interest on loans for purchase of Russian aircraft through 2023.

The Russian government plans to extend the subsidies of interest rates on loans to the purchase of Russian aircraft through 2023, Prime Minister Mikhail Mishustin said at a meeting on Thursday.

The measure will provide financing for leases and lower the final cost of more than 20 aircraft, including the Superjet 100, Mi - 8 and Ansat medical helicopters, Mishustin said.

There are also plans to change the rules for granting subsidies from the federal budget to expand the production of MS-21 airliners.

The prime minister said such a decision will give an opportunity to a number of aircraft enterprises to use about 20 billion rubles for technical overhaul.

Mishustin said he was also planning to simplify the formation of the reserve of spare parts and equipment: the volume of reserves will be determined on the basis of the total cost of technical property needed to maintain airworthiness.