Do More With Reuters
Partner Services

Russia aims to sell India 40 fighters in Sept -Ifax

Fri Aug 24, 2007 9:06pm IST
 
Email | Print | | Single Page
[-] Text [+]

MOSCOW (Reuters) - Russia hopes to sign a contract next month to sell India 40 Sukhoi fighters, the president of the Irkut warplane maker said on Friday, Interfax news agency reported.

"We hope to sign a contract in September to deliver another 40 Su-30MKI fighters to India," Irkut president Oleg Demchenko told Interfax.

The Su-30MKI is a long-haul Sukhoi fighter specially modified for the Indian air force. Indian officials had said they planned to sign a deal to buy 40 Sukhoi fighters by the end of March.

India's air force, one of the biggest in the world, also plans to buy 126 new combat aircraft to upgrade New Delhi's fleet which includes ageing Russian MiG-21s, Mig-23s and MiG-27s.

The 126-plane deal has attracted interest from European players like France's Dassault, which is promoting its Rafale fighter, and Sweden's Saab, eager to sell its JAS-39 Gripen.

Boeing's F/A-18 Super Hornet and Lockheed Martin's F-16 are also competing for the contract.

Irkut's Demchenko said the firm had built an order book of 242 Su-30 fighters, adding that those orders would keep the enterprise working at full capacity at least until 2012.

"The portfolio of orders on the Su-30 is colossal -- 242 aircraft," he said, Interfax reported. "We will have to produce 30-35 aircraft a year."

He said the main purchasers of Sukhoi aircraft were India, Algeria and Malaysia.

Irkut, one of Russia's most modern aircraft producers, makes the Sukhoi-30 range of fighter jets and the Be-200 Multipurpose Amphibious Jet. European aerospace and defence giant EADS has a 10 percent stake in Irkut.

Irkut is now part of the state controlled United Aviation Corporation, which was set up by President Vladimir Putin last year to pool Russian aircraft producers under a plan to restore the country's former strong position in aviation.

Construction workers work at a site as the sun sets in Chandigarh in this December 2006 file photo. REUTERS/Ajay Verma
Economy seen growing at 7.2 pct in FY10 - govt

The forecast reinforces the possibility that the government may start to unwind its fiscal stimulus in the budget.  Full Article 

A Greek flag at the Bank of Greece is seen near a statue of ancient philosopher Socrates in Athens February 5, 2010.  REUTERS/Yiorgos Karahalis/Files
Greek crisis sets euro zone enlargement back

The Greek debt crisis has dealt a setback to prospects of enlarging the euro zone by highlighting the difficulties of managing the single currency area.  Full Article 

Photo

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives
Greece's Finance Minister Papaconstantinou addresses reporters during a news conference in Athens, January 20, 2010.
Eurozone agreed in principle to aid Greece

Euro zone countries have decided in principle to help debt-stricken Greece, a senior German ruling coalition source said.  Full Article 

FROM THE MARKETS

After the Bell
After the Bell

Reuters Money's Kshitij Anand updates you on the movers and shakers of the Indian stock market.  Blog 

SHOWCASE

"Claw Back" Pay
"Claw Back" Pay

Banks and regulators hope that threats to "claw back" pay if trades later blow up will rein in risk taking on Wall Street.  Full Article 

 
James Saft
Blaming Asperger's

COLUMN - Did Asperger's help cause the financial crisis?  Full Article 

 
Going Global
Going Global

With Volvo, Chinese eye M&A abroad to win at home.  Full Article 

 
Delivery Woes
Delivery Woes

Boeing 787 delivery schedule could slip - experts.  Full Article 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage