Perm Engine Left with No Money
U.S. Pratt & Whitney (P&W) cut off funding development of PS-90A2 aircraft engine at Perm Motors once Russia's government terminated state support for the project.
Both the government and P&W cut off funding PS-90A2 aircraft engine from early this year, said a source with Perm Motors. The BOD of the company meets August 10 to decide whether to raise bank loans and complete development of this engine. The required amount is from $25 million to $27 million.
The PS-90A2 project was launched in the mid.-1990’s, but gained momentum in 1998, when Pratt & Whitney (United Technologies Corp.) acquired 25 percent less a stock in Perm Motors.
In operating features, PS-90A2 doesn’t differ from basic PS-90A, but its life cycle will cost 30 percent less approximately. Of $125 million required to develop the engine, from $60 million to $80 million has been invested already.
More likely than not, this promising engine won’t be made for production. It is being designed for Il-96, Tu-204 and Tu-214 aircraft, which construction funds Ilyushin Finance Co. But this lease company has initiated talks with Pratt & Whitney concerning deliveries of foreign engines.
www.kommersant.com
All the Article in Russian as of Aug. 04, 2006
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