United Aircraft Corporation

For the defunct American company with the same name, see United Aircraft.
United Aircraft Corporation
Public company
Traded as MCX: UNAC
Industry Aerospace and defense
Founded February 2006
Headquarters Moscow, Russia
Key people
 Sergei Ivanov (Chairman)
Yuri Slyusar (President)
Mikhail Pogosyan (Director-General)
Products Military aircraft
Civil aircraft
Cargo aircraft
Revenue Increase RUB 285 billion (2014)[1]
Owner Russian Government (80.29%)
Number of employees
 100,000[2]
Subsidiaries Voronezh Aircraft Production Association
Beriev
Ilyushin
Irkut
Sukhoi
Mikoyan[3]
Tupolev
Yakovlev
Aviastar-SP
KNAAPO
TAPO
Website uacrussia.ru

JSC United Aircraft Corporation (UAC) (Russian: Объединённая авиастроительная корпорация (ОАК), Obyedinyonnaya Aviastroitelnaya Korporatsiya (OAK)) is a Russian open joint-stock company. With a majority stake belonging to the Russian Government, it consolidates Russian private and state-owned aircraft construction companies and assets engaged in the manufacture, design and sale of military, civilian, transport, and unmanned aircraft. Its headquarters are in Krasnoselsky District, Central Administrative Okrug, Moscow.[4]

History

UAC was created in February 2006 by Russian President Vladimir Putin by merging shares from Ilyushin, Irkut, Sukhoi, Tupolev, and Yakovlev as a new company named United Aircraft Corporation. In October 2007 the Federal Financial Markets Service registered a primary issue of common shares for the United Aircraft Building Corporation. The issue included 96,724,000,000 shares priced at 1 RUB (US$0.04).[5] They also announced plans for a possible 10–15% share issue in 2008, planning to retain a 75% stake.[6] Currently, after placing 5 additional share issues, the Corporation's chartered capital amounts to 174.61 bln. RUB. The share of the Russian Federation in UAC’s chartered capital is 80.29%.

In December 2007, the second largest (and state-owned) Russian bank Vneshtorgbank (VTB) announced that it would sell its 5% share in EADS to UAC at market price.[7] Later that month VTB sold its share in EADS to the state-owned Russian Development Bank (VEB).[8] EADS already owns a 10% stake in Irkut which it plans to convert into UAC shares,[9] leading to EADS and UAC owning shares of each other.

Production

UAC will realize seven projects proposed by the Russian aircraft industry, including the Sukhoi Superjet 100 (formerly the Russian Regional Jet) and a medium-range plane, MS-21 (by Irkut, Ilyushin and Tupolev).

In 2009, UAC delivered 90 aircraft, including 17 passenger models. This figure includes 31 MiG-29 and two Su-34 fighter jets produced for the Russian Air Force. The company's revenues for 2009 were expected to be 115 billion–120 billion rubles.[10] In 2011-2015, UAC companies delivered to the Russian Defence Ministry more than 200 aircraft.[11]

United Aircraft Corporation has been described as one of the so-called national champions, large companies that are expected not only to seek profit but also to advance the interests of the nation.

Company structure

The former Russian defence minister, now Deputy Prime Minister Sergei Ivanov had been appointed as chairman of the board of the directors of the company and Alexei Fyodorov was selected as president and chairman of the management board of the corporation. As of September 2013 the President of BoD is Vladimir Dmitriev - "Chairman" of Vnesheconombank. Starting 28 February 2011, Mikhail Pogosyan was appointed the President of UAC.

The holding encompasses Irkut[12] Mikoyan, Sukhoi, Ilyushin, Tupolev, Beriev and Yakovlev. It has also been recently announced that the TAPO factory, in Tashkent, Uzbekistan, may also become a subsidiary of the group.

Current products

Ilyushin Il-96 and Sukhoi Superjet 100 of Aeroflot

This section contains present and future products to be distributed under UAC umbrella[13]

Civilian

Cargo

Special purposes

Military

References

  1. ↑ http://www.ruaviation.com/news/2015/2/5/2894/
  2. ↑ "Russia's United Aircraft reaches maturity". Flight International. 14 June 2010. Archived from the original on 15 August 2009. Retrieved 14 May 2011.
  3. ↑ "Ares Homepage". Aviationweek.com. Retrieved 14 May 2011.
  4. ↑ Home page. United Aircraft Corporation. Retrieved on 8 December 2010. "Ulansky side-street, bld.1, 22 Moscow 101000, Russia" – Address in Russian: "101000, Москва Уланский пер., д.22, стр.1 "
  5. ↑ CentreInvest Daily comments 22/10/2007
  6. ↑ CentreInvest Daily comments 19/10/2007
  7. ↑ "Russia VTB to sell EADS stake at market price-CEO". Reuters. 8 December 2007. Retrieved 14 May 2011.
  8. ↑ "Renaissance Capital: VTB sells its 5% EADS stake to VEB". Rencap.com. 28 December 2007. Retrieved 14 May 2011.
  9. ↑ "EADS to Convert Its Irkut Shares into Aircraft Corp. Stock". Rzd-partner.com. Retrieved 14 May 2011.
  10. ↑ "Superjet 100 Indefinitely Delayed". The Moscos Times. 2009-12-29. Retrieved 2010-01-06.
  11. ↑ ЦАМТО / Новости / Предприятия ОАК в 2011-2015 гг. поставили Минобороны более 200 самолетов
  12. ↑ "Irkut Website". Irkut.com. Archived from the original on 13 July 2011. Retrieved 14 May 2011.
  13. ↑ "OAK unveils plans for aircraft production reorganisation in Russia". Flight International. 6 November 2007. Archived from the original on 5 November 2007. Retrieved 14 May 2011.
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