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Airlines to get NWF money for buyout from leasing by end of September — Deputy Minister

According to the earlier report, at least five Russian air carriers obtained permits for insurance settlements with Western owners of airplanes and about 80-90 aircraft can be at stake

MOSCOW, July 24. /TASS/. Russian airlines are to receive money from the National Wealth Fund (NWF) to buy out aircraft of foreign make from leasing by late September, Deputy Minister Igor Chalik told reporters.

"It is difficult to say when [the airlines will receive money for the buy-out from NWF - TASS]. However, our task is to complete this program in any case by the end of September," the deputy minister said.

The Kommersant newspaper said earlier at least five Russian air carriers obtained permits for insurance settlements with Western owners of airplanes. About 80-90 aircraft can be at stake. Meanwhile, Aeroflot already bought out 18 jets from financial leasing and is holding talks on 47 more. According to Kommersant, terms of transactions were agreed or almost agreed by S7, Ural Airlines, RusLine and iFly.