icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm

MoD Sergey Ivanov is to head new state aircraft building corporation

MoD Sergey Ivanov is to head new state aircraft building corporation
Russian Deputy Prime Minister and Minister of Defense Sergey Ivanov has been set to become the head of the new state-run aircraft building company, which will unite the industry's main players.

The United Aircraft Building Corporation – or UABC – will bring together the major names in the country's civilian and military sectors, including MiG, Sukhoi and Tupolev in a bid to re-invigorate Russia's once-mighty aircraft constructors.

Sergey Ivanov pointed out that the foreign investors will not be allowed to buy shares in the military arm of the new company.

The decision to appoint Ivanov to head the corporation is a sign of how important the industry is to Russia.

It produced a quarter of the world's civilian aircraft during the Soviet period, but now turns out a small fraction of that, and needs investment to compete with Western giants such as Airbus and Boeing.

UABC says it will produce 120 aircraft a year by 2015.

Dear readers and commenters,

We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system.

Sorry for the inconvenience, and looking forward to your future comments,

RT Team.

Podcasts