30-Sep-2020 9:57 AM

UAC to receive largest post Soviet govt support package

United Aircraft Corporation (UAC) DG Yury Slyusar announced (29-Sep-2020) Russia's government initiative aimed at the payment and renegotiation of debt of UAC companies is the largest government support programme for the aircraft manufacturing industry in the post Soviet period. Mr Slyusar said: "As a result of this decision, entirely different prospects for economic and financial management are opening. Getting rid of debt will allow to free up sufficient resources to meet current challenges, as the majority of programmes are in the investment phase and require a large volume of resources". The large government support programme requires UAC to implement measures to enhance effectiveness of operations. Planned measures include the optimisation of organisational structure, and managerial and administrative staff while maintaining development manufacturing potential. [more - original PR - Russian]

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