According to the general director of ASSAD Victor Chuyko the reason of the continuing problems is the absence of a clear state policy in aircraft construction and a competent state institution responsible for implementing this policy. In 2006 the federal budget financed R&Ds totally worth 5,95 billion rubles (in 2005 - 3,49 billion rubles). Besides, the companies invested 6,8 billion rubles of the attracted credit and own means in the engine related R&Ds. The prioritized projects financed from the state budget were SuperJet-100" (51% of all budget means), Il-96-400, Tu-204-300, Be-200 and helicopters Mi-38, Ka-62.
Since last May a working group consisting of the heads of the engine making companies and the representatives of the ministries has been working out the principles of integrating the industry. The offers prepared by ASSAD provide for creating at the first stage two large integrated structures. In February, 2007 they were in general approved by the working group.
The sales of the Russian engine making sector in 2006 reached 101,6 billion rubles. Compared with the previous year serial enterprises increased production by 16,0%, design bureaus - 16,9%, research institutes - 14,4%, repair plants - 8,9%. The investments of the enterprises in the development of their technological and experimental base as a specific share of the sales revenues also grew, on average by 7,7% against 5,9% in 2005. Some companies invest in the new technologies faster than others. Among them are "Saturn" (18,5% increase), "Krasny Oktyabr" (16,9%), "Ruspolimet" (15,0%), "Salyut" (9,3%), Research Institutes VIAM (36,4%) and CIAM (15,2%).
The head of Russian Technologies, Sergei Chemezov, clarified the fate of anti-aircraft guided missiles that Russia was supposed to deliver to China
The Basmanny Court of Moscow arrested Michael Calvey, the founder of Baring Vostok investment fund, on allegations of embezzling 2.5 billion rubles from Vostochny Bank. Calvey will be held in custody until April 13