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Russian authorities are considering possibility of increasing the budgetary appropriations intended for UAC

Russian Aviaton » Thursday May 3, 2012 16:58 MSK

Russian authorities are considering possibility of increasing the budgetary appropriations intended for United Aircraft Corporation (UAC) in 2012, said in the report of proceeding at the meeting held by Vladimir Putin in April, Finmarket reports.

The asset contribution to the registered capital of UAC should be made in order to improve the financial situation of Tupolev and Kazan Aviation Production Association named after S.P.Gorbunov.

Ministry of Fonance and Economic Development Ministry were instructed to consider this possibility in cooperation with interested government agencies while elaborating changes in the federal budget for 2012 and 2013-2014.

According to UAC, 6 billion rubles should be allocated from the federal budget in 2012 for development of civil aviation projects, about 1 billion rubles – for Il-76 program and around 3,7 billion rubles for amortization of coupon payments on loans raised upon bonds (in the amount of 42.6 billion rubles).

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