CEO says financial recovery of UAC requires 300 bln rbl investment

MOSCOW, Jul 22 (PRIME) -- Financial recovery of United Aircraft Corporation (UAC) requires a capital injection of more than 300 billion rubles, CEO Sergei Chemezov told President Vladimir Putin on Monday.

“Capital top-up of over 300 billion will be needed to final financial recovery of all UAC companies,” he said.

“First of all, this amount is needed to fulfill the MC-21 programs and other civil projects. The need for increase of capitalization from the state … persists. We count on your help here.”

He added that integration of UAC into state technological holding Rostec has already started.

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