Aeroexpress has cut its train order with Switzerland’s Stadler from 24 to 11 units, citing financial difficulties.
In a statement entitled ‘Stadler offers support to Aeroexpress’, the Swiss manufacturer announced that it had renegotiated its contract with the Russian operator, reducing the total number of trains, increasing the repayment period and agreeing a grace period.
The new agreement has been guaranteed by the Swiss Export Risk Insurance and Gazprombank.
Aeroexpress began experiencing financial difficulties shortly after signing the contract in 2013, says Stadler. Factors include falling oil and gas prices and the decline of the rouble caused by imposed sanctions on Russia.
Stadler will now supply nine six-car and two four-car double-deck trains. All of the units, some of which have already been delivered, will be in service ahead of the FIFA World Cup in Moscow in 2018.
Stadler revealed that it has already sold five of the leftover 13 four-car trains to Azerbaijan and a further four to Georgia.
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