Fri, Aug 25, 2006
If Passed, Would Double Limit To 49 Percent
It seems the question
of "who-owns-what" is universal in the aircraft biz -- from the matter of the state owning a third airline
in South Africa, to the current showdown between the United States and
European Union over foreign ownership of upstart
carrier Virgin America.
Taking something of a contrarian position is Russia... which
plans on easing restrictions on foreign countries participating in
commercial aircraft projects over the next several years, in order
to attract much-needed investment in the country's aerospace
industry.
Under the new guidelines set for review next month, foreign
companies would be allowed to own stakes of up to 49 percent in
Russian aerospace companies -- double what current laws allow -- in
a move aimed at revitalizing commercial aircraft production in
Russia.
Lawmakers say that will help those planemakers who can't rely on
sales of military aircraft to stay afloat... those companies that,
in the words of one Russian official, are only producing one or two
planes per year right now.
Boeing and EADS are very interested in this latest development,
as both aerospace companies look to shore up supplies of raw
materials from Russia, as well as gain access to Russian
engineering resources.
That doesn't mean things are changing completely, however... as
the Kremlin will still oversee the industries it deems to be of
strategic interest to the country, such as development of Sukhoi's
new 100-seat regional jet.
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