RUSSIAN AIRCRAFT manufacturers and airlines are to go ahead with their plans to form a joint financial and industrial group, following president Boris Yeltsin's approval of their proposals.
The group, called the Russian Aviation Consortium, is intended to play a major role in financing the development of the country's civil-aviation industry through to the year 2000.
The consortium will include the Aviastar Ulyanovsk aviation industrial complex, the Tupolev design bureau, Perm Aircraft Engines and several smaller manufacturers, as well as Aeroflot-Russian International Airlines.
In a presidential decree endorsing the plan, Yeltsin says that comprehensive support for the aviation industry is a state priority.
The Government is expected to provide financial guarantees for national and foreign investors in Russia's aviation industry, and special taxation privileges for members of the consortium.
Source: Flight International
