20 October 2011
Russian Defense Minister Anatoliy Serdyukov said Russia could start to make An-70 cargo aircraft in 2014, Interfax reported yesterday. Ukrainian manufacturer Motor Sich (UX: MSICH UK, BUY) produces engines for the An-70. Vitaly Gorovoy: Russia is considering several plants for the manufacturing of the An-70: Ulyanovsk Aviastar, Samara Aviakor, Voronezh VASO and Kazan KAPA n.a. Gorbunov. Russia’s Defense Ministry had previously confirmed plans to buy 20 An-70s by 2020. The new plans do not appear to impact engine orders to Motor Sich; We expect the Ukrainian producer to earn revenues from sales of An-70 engines of USD 433 mln in 2011-20E (17% of total sales of aircraft engines).