The board of directors of the United Aircraft Corporation (OAK) elected Russian vice-premier and Defence Minister Sergei Ivanov as their chairman at their meeting on Tuesday.

“We can ensure coordination of the interests of the state and aircraft enterprises, incorporated in the OAK,” Ivanov said. He noted that it is necessary, above all, to give attention to the development of civil aviation, since civil aviation should ensure transport unity of Russia. “To use the sport language, we should return the OAK to the premier league of world aircraft producers,” Ivanov emphasized.

The decision on establishing the OAK was adopted by the meeting of the government commission on integration of Russian aircraft factories under the chairmanship of Minister of Industry and Energy Viktor Khristenko of November 2, 2006, informs Prime-Tass.

The OAK incorporated the Sukhoi Aircraft Company, Aviaexport Association, Ilyushin Finance Licensing Company, Irkut Corporation, Gagarin aircraft amalgamation in Komsomolsk-on-Amur, Ilyushin Interstate Aircraft Company, Sokol Aircraft Factory in Nyzhny Novgorod, Chkalov aircraft amalgamation in Novosibirsk, Tupolev Company and the Financial Leasing Company.

The OAK authorized capital totals 96.72 billion roubles. The state owns over 90 percent of the stock.

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