Kazakh airlines to buy new planes at lower prices

Business Materials 5 December 2012 13:21 (UTC +04:00)

Azerbaijan, Baku, Dec. 5 / Trend E. Kosolapova/

Kazakh airlines will be able to buy new planes at the price of the manufacturer, Kazakh Transport and Communications Ministry reported on Wednesday.

"In November Kazakhstan officially entered the Cape Town list of Organization for Economic Cooperation and Development, which includes the countries which are allowed to reduce the price of export-credit financing for the acquisition of modern aircraft," the ministry said.

Price lowering resulted from ratification of the Convention on International Interests in Mobile Equipment and the Aircraft Protocol by Kazakhstan in July. The convention allows airlines to purchase new aircrafts directly from manufacturers.

"Since now Kazakhstan's agreement on purchase of mobile aircraft equipment will be recorded in the International Register and provided with international guarantee. In turn, the international guarantees will facilitate the financing of expensive aviation projects and reduce the risks of leasing and credit operations," the ministry said.