Motor Sich signs USD 20 mln contract with UTair
1 June 2011
Motor Sich (UX: MSICH UK) signed an agreement with Russian airline UTair to overhaul engines for its Mi-8MTV-1 and Mi-26 helicopters in 2012, RBK-Ukraine reported yesterday. Value of this deal was estimated at about USD 20 mln. Vitaly Gorovoy: Next year, we expect Motor Sich’s revenues to be about USD 804 mln, with the UTair contract contributing about 2.5% of total revenues. We confirm our BUY recommendation on Motor Sich.
