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Speaking at a State Council Presidium meeting on the situation in and development prospects for the Russian aircraft manufacturing industry, held at Zhukovsky in Moscow Region, President Vladimir Putin noted the need to strengthen the sector’s position.

The aircraft manufacturing industry currently plays an important part in ensuring Russia’s national security. Russia is one of the world’s biggest exporters of military aviation technology but its civilian aircraft are looking increasingly less competitive, less attractive and fail to meet international comfort standards.

Overcoming the crisis in the Russian aircraft manufacturing industry requires responsible and genuinely innovative decisions, effort to develop new export markets and greater use of cooperation ties. Serious steps should be taken to modernise and diversify the financial and economic mechanisms the sector uses in its work, including support for aviation equipment leasing schemes.

These measures coupled with an effort to focus resources on genuinely promising projects will enable Russia to achieve results in the sector in the not too distant future and to make the country’s aircraft manufacturing industry commercially profitable and attractive.