Tupolev aircraft holding to be created late in 2004

The Tupolev holding will be finally formed in the second half of 2004, Chief Designer of the Tupolev company Igor Shevchuk reported. According to him, the first stage of creating the holding has been completed after Tupolev gained control over the Aviastar-SP plant. In the future, the company is planning to get the state control stake in the Taganrog Aircraft Plant, 44 percent in the Ulyanovsk Engine Plant, and 44 percent in the Tupolev Aircraft Research and Technology Center. The next stage envisages the Kazan Aircraft Production Company go public and transfer a block of its shares to the holding.

Shevchuk also said that Tupolev would continue promoting its new aircraft Tu-334 on the Iranian market. Tu-334 that costs $14m will be received by Russian airlines in 2004. The liner will be constructed by the Aviat company and the Russian Aircraft Corporation MiG.

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