Two major shareholders of Russian-Italian joint ventures, Sukhoi Civil Aircraft Company (SCAC) and SuperJet International (SJI), are thinking of merging their companies into one due to financial problems, Russia’s daily newspaper Kommersant reported on Monday.
The new company is to be formed on a parity business and the new business model should be ready by the Paris Air Show in Le Bourget in June.
Sukhoi Civil Aircraft Company (SCAC) (75% owned by Sukhoi Holding Company, a subsidiary of Russia’s United aircraft Corporation (UAC) the rest 25% — by Italian Alenia Aermacch) is responsible for production of the jet and its sales in Russia, CIS, China, India, Middle East and South-Eastern Asia.
SuperJet International (SJI), ((51% owned by Alenia, and the rest 49% — by Sukhoi Holding Company) is responsible for the customization and sales of SSJ-100 jets in Europe, America, Africa, Oceania and Japan.
During the first half of 2014, SCAC’s debts amounted to $2.63 billion.
SJI finances are not revealed but UAC losses in SJI in 2014 have totaled 653 million rubles ($12,671,373).
In March, President Vladimir Putin earmarked a 100 billion ruble ($1.7 billion) capital boost to UAC to stimulate the production of passenger airliners.
Thus, the newspaper says, the creation of a new company would be viable within Russia's jurisdiction.