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Airbus not in talks on buying stake in Russian Helicopters — minister

April 19, 2016, 13:27 UTC+3 MOSCOW

The cooperation with Airbus lies in the field of aircraft parts production

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MOSCOW, April 19. /TASS/. Russia’s Minister of Industry and Trade Denis Manturov confirmed the information that Airbus is not in talks on buying a stake in Russian Helicopters.

"No one has negotiated this with me, no proposals have been submitted either to Rostec, or to the ministry, regarding the stake in Russian Helicopters," Manturov told TASS Tuesday.

According to the minister, currently the cooperation with Airbus lies in another area.

"As of today the cooperation with Airbus lies in the field of aircraft parts production. Also, the issue of potential assembly of the smallest model of Airbus Helicopters on the plants of the Ural Works of Civil Aviation has been discussed," Manturov said.

"I assume we will make the choice [regarding the buyer] by the end of summer. I think mixed options [implying both Russian and foreign investors buying into the company] are possible, may be mixed, may be only Russian," he said, adding that the ministry is considering "various applications."

According to Manturov, it is early to give the names of the companies interested in buying the asset. "It’s inappropriate to give names ahead of time. I confirm there are both Russian and foreign among them. But we have a serious condition related to the fact that Russian Helicopters have the right for participating in international trade within the military technical cooperation regarding repairs and components supplies. The condition is that a 75% share has to be owned by either the state or the state corporation in case a foreign company (buys the stake)," he said, adding that local buyers could be offered a controlling stake in the company.

Last week Economic Development Minister Aleksey Ulyukayev said Airbus had shown interest in the purchase but it was yet to be confirmed.

The Russian Helicopters company is part of state hi-tech corporation Rostec.

Russian Helicopters is the sole Russian rotorcraft designer and manufacturer with the capability to design, manufacture, service and test modern civilian and military helicopters. The company includes design bureaus, helicopter assembly plants, components production, maintenance and repair enterprises, aircraft repair plants, and helicopter service companies providing after-sales support in Russia and abroad. The company accounts for about 35% and 50% of the global market of combat and medium military transport helicopters.

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