Italy's Alenia Aeronautica near Russian deal, say reports

(ANSA) - Moscow, March 26 - A subsidiary of Italian defence giant Finmeccanica is close to signing a major contract to take part in the construction of regional jet airlines with Russia's Sukhoi Civil Aircraft, local media reported Wednesday.
    Finmeccanica signed a letter of understanding with Sukhoi that would see the Italian firm's subsidiary Alenia Aeronautica work in a joint venture to produce the Superjet 100, the flagship craft of Sukhoi, for sale to China's O-Bay Aircraft Co.
    The deal reportedly involves 100 of the Superjets for an estimated cost of $3.5 billion US, beginning with 40 aircraft in 2014. Some assembly would occur in China.
    According to media reports, if the deal comes to fruition it will be the most significant in the history of Sukhoi and Russian civil aviation.
    The initial development of the Sukhoi Superjet 100 began in 2000 and has involved international partners including Italy's Alenia Aeronautica, Canada, France and the United States. Those same countries, through the Group of 7 major industrial powers, have been involved in bringing multilateral sanctions against the Russian government over the crisis in Ukraine. G7 leaders have issued a declaration reiterating their support for Ukraine's new government and calling Russia's annexation of Crimea illegal.