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Russia’s United Aircraft Corporation surges by 45 percent
(MENAFN) Following the nation's first entirely domestically produced aircraft made its maiden flight on Tuesday, shares of United Aircraft Corporation (UAC), a state-run aerospace corporation in Russia, surged by 45 percent.
The maiden flight of an SSJ-100 outfitted exclusively with locally produced parts was reported to have been completed earlier by the Russian Industry Ministry. The airplane traveled at a speed of 343 kilometers an hour (213 miles per hour) and heights of up to 3,000 meters (9,800 feet).
Stocks of UAC and Yakovlev Design Bureau, that created the plane, were trading roughly 30 percent higher than the previous day as of 16:48 Moscow time.
The information that the Russian administration was considering spending over 650 billion rubles (USD6.8 billion) from the National Welfare Fund (NWF) to bolster the industry helped aviation stocks as well.
The fleet of aircraft and helicopters is going to be upgraded over the long term, with the left 240 billion rubles (USD2.5 billion) going toward increasing the production of civil aircraft, engines, along with assemblies for the entire industry, based on an unidentified origin close to the debate who was cited by Interfax.
The maiden flight of an SSJ-100 outfitted exclusively with locally produced parts was reported to have been completed earlier by the Russian Industry Ministry. The airplane traveled at a speed of 343 kilometers an hour (213 miles per hour) and heights of up to 3,000 meters (9,800 feet).
Stocks of UAC and Yakovlev Design Bureau, that created the plane, were trading roughly 30 percent higher than the previous day as of 16:48 Moscow time.
The information that the Russian administration was considering spending over 650 billion rubles (USD6.8 billion) from the National Welfare Fund (NWF) to bolster the industry helped aviation stocks as well.
The fleet of aircraft and helicopters is going to be upgraded over the long term, with the left 240 billion rubles (USD2.5 billion) going toward increasing the production of civil aircraft, engines, along with assemblies for the entire industry, based on an unidentified origin close to the debate who was cited by Interfax.
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