Russia's UAC unit to end An-148 manufacturing

Aeroflot agrees on SSJs, MC-21s, Tu-214s, Il-114s

Red Wings, Volga-Dnepr, Aviastar eye patched-up Russian jets

Three Russian carriers - Aviastar-TU, Red Wings Airlines, and Volga-Dnepr Airlines - are considering the possibility of leasing three cargo and eight passenger aircraft to be restored by UAC United Aircraft Corporation, the business daily Vedomosti has reported.

Russia’s Ministry of Industry and Trade has proposed allocating RUB15.4 billion rubles (USD253 million) for the restoration of one An-124, two Il-96-400Ts, and eight Tu-204/Tu-214s, work that would be completed by 2024.

Red Wings has been in preliminary discussions on the terms of leasing some of the Tupolev Design Bureau narrowbody twinjets, a company representative told the newspaper, although he declined to say how many are of interest to the carrier.

Deliveries of the patched-up aircraft are possible starting in late 2022 or early 2023, a source close to United Aircraft Corporation parent Rostec said. Restored aircraft like these will be made available to passenger and cargo carriers that “have experience in operating Russian equipment,” the source cautioned.

The Yuri Gagarin Cosmonaut Training Centre, headquartered at Star City, a...

US sanctions all Russian aircraft manufacturers

The US Department of the Treasury's Office of Foreign Assets Control (OFAC) has updated its list of individuals and companies designated under the framework of sanctions on Russia, adding all state-owned civilian aircraft manufacturers controlled by Rostec and UAC United Aircraft Corporation.

The June 28, 2022, update includes, among scores of other companies and individuals, the following firms and all of their subsidiaries:

• UAC United Aircraft Corporation - the parent holding for all manufacturers controlled by state-owned industrial conglomerate Rostec,
• Irkut - the manufacturer of the MC-21-300 and the SSJ 100/95, and
• Ilyushin Design Bureau - the manufacturer of the Il-114-300 and its affiliated bank Ilyushin Finance,
• Tupolev Design Bureau - the manufacturer of the Tu-214.

Select transactions with Rostec and its subsidiaries will remain permitted through August 11, 2022. Those related to aircraft or other goods linked to the sanctioned entities but located wholly outside of Russia and used solely for civilian purposes are also exempted.

Yuri Slyusar, the CEO of UAC,...

Aeroflot shareholders back issue of additional stock

Aeroflot Group shareholders have approved an additional issue of 5,424,308,073 ordinary shares, to be placed by open subscription at a price of RUB34.29 rubles (USD0.60) per share, with a par value of one ruble, the company outlined in a disclosure last week.

The corresponding amendments to the company’s charter were also approved. Once placed, the majority state-owned flag carrier, which is currently under heavy pressure from airspace bans and Western sanctions, will have made up to RUB185.2 billion (USD3.24 billion) through the measure.

The move was initially revealed in late April, and the board of directors approved it in early May. The cash injection, which increases the company’s authorised capital by 320%, will be made in part via Russia’s National Wealth Fund.

As the Moscow Exchange opened on Monday June 13, Aeroflot’s shares were trading at a price of RUB27.20 rubles (USD0.48) per share according to online financial sources.

As previously reported, Aeroflot Group - which includes the airlines Aeroflot, Pobeda, and Rossiya - is planning to place an...