Fitch: Superjet crash unlikely to affect SCAC's ratings

PanARMENIAN.Net - Fitch Ratings expects the crash of the Sukhoi Superjet 100 (SSJ 100), while on a demonstrator flight, to negatively affect orders for the aircraft in the short term, but not the 'BB'/Stable rating of JSC Sukhoi Civil Aircraft (SCAC), the plane's manufacturer. SCAC's ratings are linked to its ultimate majority shareholder, the Russian Federation ('BBB'/Stable), according to Reuters.

Although the cause of the crash outside Jakarta, Indonesia on May 9 is still unknown, this tragic accident represents a further setback to the ambitious Russian civilian aerospace industry. Over the past decade the Russian state has invested heavily in the sector in the hope of re-establishing the country as a global technology and high-end manufacturing leader.

The success of the SSJ 100 regional jet is especially important as it is the first of many new commercial aircraft to be launched. Instead, it has suffered from a three-year development delay, poor initial market reception and minor operational difficulties following its April 2011 entry into commercial service.