Aeroflot Cargo in lease agreement for Il-96-400T aircraft with UABC

Moscow: Russian flagship airline, Aeroflot, has signed a memorandum of understanding with the United Aircraft Building Corporation (UABC) on the lease of six IL-96-400T cargo aircraft, according to the airline's press office.

According to the document, a draft agreement on leasing six IL-96-400T airplanes will be signed between Ilyushin Finance Co. and Aeroflot Cargo within a month of the companies signing the memorandum.

Supplies of aircraft are expected to take place within a period of three years (two planes in 2008, one in 2009 and three more in 2010). The term of lease is 15 years and property rights for the planes will be handed over to the lessee after the leasing period expires and all payments have been effected.