50 SKY SHADES - World aviation news

Privatized stake in Russian Helicopters may be increased — minister

Download: Printable PDF Date: 23 Jul 2016 15:16 categories:
Privatized stake in Russian Helicopters may be increased — minister - Finance publisher
Tatjana Obrazcova
Country: Russian Federation Aircraft: Helicopters
Source: Ruaviation

The stake in Russian Helicopters intended for privatization can be increased to 49%, but so far none of Russian investors has showed interest in it, Industry and Trade Minister Denis Manturov told reporters.

"To date, there is no investor. It does not mean a delay, it is "on stand-by". The main decision (about a possible increase of the stake to 49% -TASS) has been made. As for the terms we don’t set any deadlines for ourselves," he said.

Manturov reiterated that in June at the St. Petersburg International Economic Forum, the agreement on privatization of 21% in Russian Helicopters was signed by the Russian Direct Investment Fund and a pull of investors.

Russian Helicopters is a leading player in the global helicopter industry, the sole Russian rotorcraft designer and manufacturer and one of the few companies worldwide with the capability to design, manufacture, service and test modern civilian and military helicopters. Russian Helicopters is part of State Corporation Rostec.

According to Manturov, the Industry and Trade Ministry counts on additional financing in the amount of up to 20 bln rubles ($311 mln) for the Industry Development Fund in 2017.

"We expect that next year we will also have the decision on additional financing for the Industrial Development Fund, because the tool turned to be effective. We count on 20 billion rubles in 2017," he said on the sidelines of the Forum for Strategic Initiatives.

The Industry Development Fund was created in 2014 on the initiative of Industry and Trade Ministry to modernize Russian industries, establish new ones and to ensure import substitution. The Fund offers favorable conditions for co-financing of projects aimed at developing new high-tech products, technical upgrade and creation of competitive industries.

Loading comments for Privatized stake in Russian Helicopters may be increased — minister...


The Russian Helicopters are preparing digital production of helicopters in Ulan-Ude

The Russian Helicopters Holding Company (part of Rostec State Corporation)  is creating the technological production model of the Ka-226T helicopters at the Ulan-Ude Aviation Plant. The digi...

Zhukovsky International Airport can become a "bridge" between China and Russia

Zhukovsky International Airport and Pegas Fly airline announce the launch of a large-scale program to support Chinese tourism in the Russian Federation and the launch of a flight on the route Jinan (P...

Oriens Aviation moves into Pilatus PC-12 MRO support with Avalon Aero London Biggin Hill acquisition

Oriens Aviation, the exclusive Pilatus Centre for the British Isles, has reinforced its commitment to the world's best-selling single engine turboprop (SET), the Pilatus PC-12, and the growing SET...

American Airlines is first retrofit customer for Airbus’ new Airspace XL luggage bins on its A321 fleet

Larger overhead luggage bins offer 40 percent more storage space for carry-on bags Project includes cabin upgrades for 202 A321s Airbus takes major step into US services market with its largest...

Two-thirds of airlines to enter new era of connected onboard services by 2020

More than 90% of airlines are set to ramp up investment in advancing wireless services for cabin crew and pilots over the three years to 2020 – an 18% increase since SITA’s 2016 Airli...