Rostec chief says hypersonic business jet project will be lossmaker
The hypersonic jet project has been in the works at the United Aircraft Corporation (part of Rostec) since 2018
MOSCOW, April 25. /TASS/. The project to create a hypersonic business jet will be commercially unfeasible unless customers from the UAE confirm their readiness to cooperate and pre-order those aircraft, Russian state-owned advanced technology corporation Rostec’s head Sergei Chemezov told the Rossiya-24 TV channel.
“So far, [the project exists] only on paper. <…> The idea is beautiful. But, regretfully, it is not commercially feasible. This is a lossmaker,” he said.
In his words, the project will be commercially feasible only if investors from the UAE “eventually give their consent.”
The hypersonic jet project has been in the works at the United Aircraft Corporation (part of Rostec) since 2018, jointly with several research institutions. The Russian Industry and Trade Ministry has launched a competition for the plane’s concept. Its results are to be known in December 2021.
According to Russian Industry and Trade Minister Denis Manturov, it will be a passenger business jet available in two versions: one for transporting up to eight passengers, the other – up to 30 passengers. The jet will travel at the speed of up to 1.8 Mach, with the hypersonic range being between 1 and 5 Mach. The initial stage of the project will require investment of about $100 million.
Earlier, Chemezov said the entire production cycle will take place on the Russian territory and the United Arab Emirates may take part in the project financially. United Arab Emirates may take part in the project as a financial investor, he added.
Manturov, in turn, said a Russian-UAE joint venture could be created for the purpose, but the discussions are yet at their initial stage.