Nextant Aerospace named FortAero Baltic Business Aviation Alliance as its exclusive sales agent for Russia and CIS. Dealership agreement was signed at the recent Paris Air Show.
The company has placed an initial order for two 400XTi’s valued at around $11.4 million.
FortAero has offices in Tallinn and Moscow and provides services to entrepreneurs and governments globally. The regional dealership will do business as Nextant CIS with the initial two aircraft sold to unnamed customers for executive transport.
“We see strong potential in Russia and CIS region and FortAero has the knowledge, experience and network to meet the demand”, said Peter Walker, Nextant vice president, EMEA and APAC (pictured).
Walker continued “It is a young and expanding aviation market which understands the convenience of business aviation. Light cabin aircraft have traditionally struggled in the Russian market due to limited range. This is not a problem for the Nextant 400XTi. With a 3,710 km (2,003 nm) range the aircraft can easily fly from Moscow to London, Barcelona or Cairo without refueling with the quietest and most comfortable cabin in its class.”
The Russia/CIS entry-level jet market is estimated to be 69 aircraft valued at $225 million and growing. However, the total Russia/CIS market, including aircraft owned by residents but registered abroad, is estimated to be at least three times this size.
“The Nextant value proposition is perfect for Russia and CIS”, said Vadim Opryshko, CEO of FortAero and President of Nextant CIS. “The 400XTi has the comfort, range and technology the local market expects with a price half that of the competition.”
“We are seeing increasing demand for cost-effective business jet travel to Europe and the Middle East for business people and their families. There is also a strong and growing market to provide supplementary lift for large corporations who currently operate large cabin aircraft but want a more cost effective solution for their managers, lawyers and key advisors,” Opryshko concluded.