UAC to get government cash injection

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By TESTCustomwebLP TESTCustomwebLP March 31, 2015 16:31

UAC to get government cash injection

United Aircraft Corporation will receive a 100 billion ruble (US$1.7 billion) capital injection from the Russian government to stimulate production of passenger aircraft.

The news was announced by President Vladimir Putin late last week. He said that Russia needs to “expand the civilian sector, they [civilian and military] should develop together”.

State-owned United Aircraft Corporation is struggling to generate sales of its passenger jet, the Sukhoi SuperJet 100, and is also burdened by debts of 270 billion rubles.

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By TESTCustomwebLP TESTCustomwebLP March 31, 2015 16:31