Russia’s national development bank Vnesheconombank (VEB) is to loan $1 billion to aircraft-builder Sukhoi until 2024 to further develop its Sukhoi Superjet 100 regional airliner, Sukhoi said on Wednesday.
Sukhoi will use the funds to modernize the SSJ-100, for RD and to restructure the company’s debts under the loan agreement, which was signed by Sukhoi and VEB late on Tuesday.
The Superjet 100 is a medium-haul passenger aircraft developed by Sukhoi in cooperation with U.S. and European aviation corporations, including Boeing, Snecma, Thales, Messier Dowty, Liebherr Aerospace and Honeywell.
The aircraft is capable of carrying up to 100 passengers for 4,500 kilometers.
The SSJ 100 received its Type Certificate from the European Aviation Safety Agency (EASA) in February.