26 September 2011
The Defense Ministry of Ukraine is planning to transfer USD 57 mln in 2012 for the construction of an An-70 aircraft, Interfax reported on Friday, citing the Head of the Defense Ministry’s finance department, Ivan Marko. He said the sum was provided for by the current draft of the state budget. Vitaly Gorovoy: The main Ukrainian producer of engines for the An-70 is Motor Sich (UX: MSICH UK, BUY). In our DCF model, we project company revenues from sales of these engines to reach USD 433 mln in 2011-20E (17% of total sales of aircraft engines).