ANNOUNCEMENT 14 Oct 2015

In October 2015, the government of the Russian Federation announced a change in private-sector financial support.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE



? 100?
14 2015 2045-.
http://government.ru/docs/20110/


Inception date: 14 Oct 2015 | Removal date: open ended
Still in force

Production subsidy

On 14 October 2015 the Russian Government approved Resolution No. 2045-p. Its purpose is to stimulate the sales of the aircraft "Sukhoi Superjet 100".
The state afforded means by which this accomplished are as follows:

  • The charter capital of Public Joint Stock Company "State transport leasing company" (hereinafter - PJSC "STLC")is to be increased. PJSC "STLC has been selected by the Ministry of Industry and Trade of the Russian Federation as the lead project operator for leasing of the aircraft "Sukhoi Superjet 100" on the Russian market.
  • Federal loan bonds with par value of the amount of 30 billion Russia Roubles (approximately 488.28 million USD) are to be transferred as payment under sale-purchase contract. As part of this contract, the Ministry of Transport of the Russian Federation will acquire the newly-issued shares of PJSC "STLC" with a total cost of 30 billion Russian Roubles with an option of their subsequent realisation at face value.
  • An agreement for the concluding of the described financial activities is to be concluded between the Ministry of Transport, the Ministry of Industry and Trade, the Agency for Deposit Insurance and PJSC "STLC".

Resolution No. 2045-p states that the described state support scheme will allow PJSC "STLC" with contracts to supply 32 aircraft "Sukhoi Superjet 100" to form a source of funds for the acquisition and subsequent transfer of aircraft to domestic airlines.

The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets, and from foreign subsidiaries.
 

AFFECTED SECTORS