ANNOUNCEMENT 27 Dec 2016
On 27 December 2016, the Russian Government signed an agreement with government-controlled United Aircraft Corporation to transfer funds towards the design of the new version of IL-114 airplane.
NUMBER OF INTERVENTIONS
Agreement on the Participation of Russian Federation in the Capital of the Public Shareholding Society which is a Headquarters of an Integrated Institution of the Military-Industrial Complex N 01-09/303 (between Federal Agency for Managing State Property, Ministry of Industry and Trade and Public Shareholding Society United Aircraft Corporation). Russian Registry of Subsidies, Unique ID: 02016P7M000017 dated 27.12.2016
Source on Designation for Army and Navy to replace Ukrainian Antonovs: https://www.ainonline.com/aviation-news/defense/2014-09-26/russia-dumps-140t-airlifter-home-made-ilyushins
On 27 December 2016, the Russian Government signed an agreement with government-controlled United Aircraft Corporation to transfer 1.5 billion rubles (USD 25 million) towards the design of the new version of IL-114 airplane.
The transfer was formalized as the Russian government (Federal Agency for Managing State Property) buying equity in the United Aircraft Corporation, but the agreement specified the funds can only be used towards the design and test production of IL-114 planes.
Although sold abroad, IL-114s target primarily the domestic market. Most of the IL-114s to be produced are expected to be purchased by the Air Force and the Navy, to replace the aging fleet of Ukraine-made Antonov planes.
The measure is in the framework of the State Program for the Development of Aircraft Manufacturing in 2013-2015, subprogram 1 on Aeroplane Manufacturing.