The leading producer of aircrafts in Russia, Irkut Corporation reported that it redeemed credit linked notes (CLNs) worth USD 125 million and made the final coupon payment. The payments were made exactly on schedule. The company’s ability to return payments indicated that the situation within the Russian aviation industry is improving in the face of the economic crisis.

Irkut produces the famous Su-30 fighter jet, which Russia sells to India, Malaysia, and Algeria. So far, these countries have ordered a total of 300 Su fighters (finished aircraft and sets for licensed production).

Irkut corporation also is engaged in constructing Yak-130 training aircraft used by the Russian air forces and the export market.

Altogether, Irkut accounts for a 15-percent-share of Russia’s arms exports. For the past five years, Irkut has made the Defense News ranking of the world’s top hundred defense sector companies.

In the previous year, Irkut contributed RUR 31.2 billion to the Unified Aviation Corporation’s revenues of RUR 85.2 billion. The corporation paid almost RUR 2.4 billion in taxes for 2008 to the federal and regional budgets and extra-budget funds.

Irkut also works in the civil aviation sector. The company manufactures the Be-200 amphibious aircraft and a new model of an unpiloted aircraft. The company also produces parts for Airbus airplanes.

Irkut is also involved in designing and testing of a new line of short and medium-range Russian passenger jets MS-21 that will enter production in 2016.