Mikhail Pogosyan has been elected president of United Aircraft Corporation (UAC) during the meeting of Board of Directors on Friday February 25th.

According to the articles of association of UAC the president is elected for the period of 5 years. The president is a single executive body and the Chairman of the board of administration.

"The problems facing United Aircraft Corporation are defined. We must strengthen the leading positions of Russia on the world market of military aircraft and become one of the leaders in the area of civil aircraft by increasing the part of civil production to 60-70%. Unfortunately the paces of realization are a little behind the intended plans. At the same time i would like to admit that great work has been done in business structuring of the Corporation and financial recovery of quite a number of enterprises. The efficient and fast organization of production of modern and competitive aircraft based on innovative technologies, that's what expected from us. I am sure that the Corporation has sufficient reserves for activization of work in different areas", - said Mikhail Pogosyan.