MIAMI – A joint venture to build a supersonic passenger aircraft will be set up by Russia’s United Aircraft Corporation (UAC) and Emirati State-owned investment company Mubadala, Minister of Industry and Trade Denis Manturov said on Sunday.
Previously, the Russian company attempted to make a passenger aircraft based on the Tupolev Tu-160, but later rejected the proposal, choosing to develop a new supersonic aircraft from the ground up.
Comments from Russia’s Minister of Industry and Trade
Manturov is quoted by sputniknews.com as saying that “The question is what kind of equity participation it will be, as we have not yet discussed this issue. From the UAE side, it will be Mubadala, from our side it will be clear that it will be the UAC or some of its subsidiaries”
The Minister also noted that the initial design of the aircraft will be presented by the end of 2021 or the start of 2022. However, the aircraft’s target requirements have already been established. It must achieve speeds of 1.8 Mach and will be available in two models comprised of eight and 30 seats.
About UAC, Mubadala
The open joint-stock company (OJSC) United Aircraft Corporation (UAC) is a Russian aerospace and defense firm that consolidates Russian private and state-owned aircraft manufacturing companies and properties.
The UAC was created on February 20, 2006, by Russian President Vladimir Putin in Presidential Decree No. 140 by merging shares from Ilyushin, Irkut, Mikoyan, Sukhoi, Tupolev, and Yakovlev as a new OJSC to optimize production and minimize losses.
UAC specializes in the production, design, and selling of military, civil, transport, and unmanned aircraft, with a majority stake belonging to the Russian Government. Its headquarters are in the district of Krasnoselsky, Okrug Central Administrative District, Moscow.
Mubadala Investment Company public joint-stock company (PJSC) is an Emirati state-owned holding company most properly characterized as a sovereign wealth fund.
Featured image: Tupolev Tu-160. Photo: By Alex Beltyukov – http://russianplanes.net/id166426, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=42174662