VEB is not considering the possibility of purchasing UAC’s share in IFC leasing company

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VEB is not considering the possibility of purchasing UAC’s share in IFC leasing company

VEB State Corporation is not considering the possibility of purchasing the share of United Aircraft Corporation (UAC) in Ilyushin Finance & Co. leasing company, TASS reports with reference to the VEB CEO Vladimir Dmitriev.

“The deal is not being considered,” he said answering the question.

UAC owns 48,4% of the lessor’s shares, “VEB Capital” - 21,39%, IFC Aviainvest - 20,38%, another 3,14% are owned by IFC CEO Alexander Rubtsov. The rest shares are owned by minority shareholders (including businessman Alexander Lebedev).

In 2013 Russian government approved the sale of IFC’s shares owned by UAC. UAC planned to use the obtained funds for supporting SSJ 100 project. However, the deal was not closed in 2014.

Ilyushin Finance & Co. specializes in leasing of civil aircraft manufactured by UAC (Il-96, Tu-204, An-148, SSJ 100) as well as leasing of Bombardier CSeries jets. Its backlog stands at 160 aircraft. The company’s revenues for 2013 were 11 billion rubles, net profit - 206,6 million rubles (-20% year-on-year).