MOSCOW, May 17 (RIA Novosti) - Aeroflot (RTS: AFLT) shareholders have voted to approve a deal to buy 30 Russian Regional Jets from Sukhoi Civil Aircraft, a member of the board of directors said Wednesday.
The RRJ project is a family of medium-range passenger aircraft developed by Sukhoi in cooperation with major American and European aviation corporations, including Boeing, Snecma, Thales, Messier Dowty, Liebherr Aerospace, and Honeywell.
"After the session, Aeroflot will transfer an advance payment of $15 million to Sukhoi," the source said.
Aeroflot and Sukhoi, a subsidiary of the Sukhoi state aircraft manufacturing holding, signed the RJJ contract in December 2005. The first deliveries are scheduled for 2008.
The source said the government as the main shareholder in Aeroflot had not participated in the vote because it was a deal with interest.
"The vote involved the National Reserve Corporation, which owns about 30% of Aeroflot shares and other minority holders with a total package of 15%," the source said, adding that the corporation had approved the deal.
He said the deal would be valid because it had been backed by the majority shareholder.
The Aeroflot board of directors approved the deal in December. The National Reserve Corporation had originally opposed the deal, but considered arguments proposed at the board's session and agreed with Aeroflot in favor of the RRJ.
Sukhoi plans to produce at least 700 RRJs, and intends to sell 35% of them to North America, 25% to Europe, 10% to Latin America, and 7% to Russia and China.
The RRJ market is estimated at 5,400-5,600 units until 2023 and valued at $100 billion.
