Russian Navy


Russian gvt to purchase aircraft from MiG in effort to provide financial relief

02/12/2009  Source: en.rian.ru
Translation: RusNavy.com

The Russian government will provide financial support to aircraft manufacturer MiG through the new arms procurement plan, which presumes the purchase of MiG-29 KUB for the Russian Navy, Vice Prime Minister Sergei Ivanov told journalists on Wednesday after a meeting of the heads of design and construction bureaus in Moscow.

“We have been paying a lot of attention to the financial situation at MiG. The government will help by all means, including financially, it’s one of Russia’s biggest companies. In the new arms procurement program now being prepared there are provisions to purchase MiG-29 KUB for the Navy for use on aircraft carriers,” said Ivanov.

He gave no specifications as to when the purchases could begin and the amounts involved.

He also stressed that if necessary the government was prepared to look at further measures to support MiG.

“This will in turn allow to integrate MiG into the United Aircraft Corporation without too much tension and without transferring to the newly organized entities the liabilities now on MiG’s balance sheet,” Ivanov stressed.

Ivanov has said that the government will buy the 29 MiG-29 earlier rejected by Algeria. The contract is estimated at 25 billion rubles, according to the vice premier.

The Russian aircraft builder MiG was restructured into an open joint stock company in 2008. The 100% stake owned by the Russian government will be rolled into the registered capital of the United Aircraft Corporation.

The company produces modern fighter jets and interceptors; multipurpose military jets, including the new MiG-29k/KUB, MiG-29M/M2, and the all new MIG-35; learning-training equipment; as well as light aircraft for civilian use. The company is working on next-generation piloted and unmanned aircraft.

The two-seat MiG-29 KUB and the single-seat MiG-29K are multipurpose fighter jets intended for aircraft carriers. They are meant to seek and engage surface targets in night- and daytime with high-precision weapons.

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