RDIF, foreign partners could launch aircraft leasing co in 2020

Interfax, 07.11.2019

MOSCOW. Nov 7 (Interfax) - The aircraft leasing company being set up by the Russian Direct Investment Fund (RDIF) and its foreign partners could start work in 2020, said RDIF chief Kirill Dmitriev.

"We expect it will start work next year. Funding is in place, this really is a big project, and next year it will all start to operate," Dmitriev told reporters on the sidelines of the Regional Forum "Investing in Regions - Investing in the Future."

It was announced in October that a consortium of international investors including the RDIF, Saudi Arabia's Public Investment Fund as well as a Lufthansa partner, German financial group KGAL GmbH & Co. KG are creating ROAL - a company for leasing of passenger aircraft in Russia. Investment in the company is planned at more than $600 million.

The goal of the project is to invest in modern civil aircraft which will be made available to Russian airlines under long-term leasing contracts, the statement said.