A model of the Mikoyan MiG-35 fighter jet stands on display during the Langkawi International Maritime And Aerospace Exhibition in Langkawi, Malaysia. (Photographer: Charles Pertwee/Bloomberg)

Russia Seeks $10 Billion in Export Sales From New MiG-35 Fighter

(Bloomberg) -- Russia is targeting export sales of at least $10 billion for the new MiG-35, the country’s most advanced jet fighter, as it prepares to offer the aircraft commercially from next year.

Negotiations are underway with more than 30 countries that fly the older MiG-29 about upgrading their existing fleets or adding extra planes, Ilya Tarasenko, Director General of Russian Aircraft Corp. MiG, said Tuesday, putting a value to sales ambitions for the plane for the first time.

The export target for the the aircraft, which is undergoing tests, doesn’t include anticipated cash flow from related maintenance contracts and post-warranty support, Tarasenko said in an interview at the Dubai air show.

Speaking through an interpreter, he added that the MiG-35’s range, greater weapons load and reduced radar signature make it ideal for Middle Eastern countries. The aircraft is a development of the MiG-29 and, outside Russia, has so far won orders from Egypt.

An earlier iteration of the model missed out on a major order from India, though plans to market the plane there to meet additional requirements have been revived.

©2017 Bloomberg L.P.