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Mr Putin expressed dissatisfaction with the state of affairs in the Russian aircraft manufacturing sector, noting that group interests in the sector often come into conflict with national interests.

The President said he does not oppose state support for aircraft manufacturing, but the sector should be competitive and effective. Russia’s aircraft manufacturing business should be commercially profitable and attractive. Mr Putin called on Russian aircraft manufacturers to look not just to the domestic market but also to the global market.

Following the meeting, Mr Putin instructed the government to draw up a draft decree with an action plan for creating a unified aircraft manufacturing corporation.

The new company that Russia plans to set up should make total earnings of $2.5 billion, Industry and Energy Minister Viktor Khristenko said at the meeting. Russia’s aim is to become on the five leading world exporters in the aircraft manufacturing sector.

While at Central Aerohydrodynamics Institute, Mr Putin was shown the new trans-sonic T-128 wind tunnel and also visited the resource test laboratory where he saw an Il-96 liner undergoing live tests.