United Aircraft broke even last year: chief

Russia’s United Aircraft broke even last year despite heavy investment in a number of civil and military programmes, including the Irkut MC-21.

The company says there was a “substantial burden” arising from programmes including the Ilyushin Il-76 modernisation and continued development of the Sukhoi Superjet 100.

Airtickets ONLINE

But it is forecasting a Rb50 billion rise in revenues to Rb400 billion (USD 6.7 billion) for 2016.

The manufacturer says it delivered 143 aircraft, a slight reduction on the previous year owing mainly to planned reductions in military volumes.

But president Yuri Slyusar, in a speech outlining the company’s performance to the ruling United Russia political party, said it had reached “break-even level” and was forecasting profitable growth from 2018.

United Aircraft expects to increase aircraft deliveries this year and reach a delivery figure of more than 200 in 2019.