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Yakovlev Bids For Fokker

Russian design bureau Yakovlev has offered $US216m to purchase the assets of Fokker with funding coming from a consortium of Western banks and guaranteed by the Russian Government. The deal has Russian Government approval but is still subject to various checks before it can proceed. Yakovlev’s vice president, Mr Arkady Gurtovoi, says the bid is backed by the Dutch Government “but there are still bureaucratic hurdles to overcome”. He hopes the deal can be completed by the end of the year. If Yakovlev takes over Fokker’s product line, production of fuselages would be transferred from DASA in Germany to Saratov in Russia, while wings would be made in Smolensk instead of by Shorts in Northern Ireland.

Chinese Airliner Team Selected

Aviation Industries of China (AVIC) has signed an exclusive letter of intent with Aero International Asia (AIA) – an offshoot of the European Aero International (Regional) consortium comprising BAe, Aerospatiale and Alenia — and Singapore Technologies to develop a new 100 seat regional jet. The decision comes after a lengthy period of deliberation which sees Boeing and South Korean interests missing out, although it was already widely known that the Europeans were preferred to the Americans. The allocation of shares in the new company which will be formed to design and build the airliner is scheduled to be announced in October but the likely proportions are reported to be AVIC 45%, AIA 40% and Singapore Technologies 15%. Contractual negotiations between the three organisations are now in progress with the aim of launching the program later this year. South Korea was initially mooted as a major partner in the program but negotiations broke down. A last ditch bid to rejoin failed, leaving the Koreans accusing China of deviating from the principles of cooperation. South Korea will now look to find another partner for its aerospace plans.

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