Russian aircraft makers to merge within a year

Posted on: Feb. 22nd, 2006 || Source: iht.com | E-mail Article | Print Article

MOSCOW Russia's leading aircraft companies, including the makers of MiG fighter jets and Soviet-era civilian airliners, will merge into a single, state-controlled holding company within a year, allowing them to better compete with Airbus and Boeing, President Vladimir Putin has decreed.

With shared engineering and manufacturing prowess - and the promise of Kremlin patronage - the new company could again become a formidable competitor, after a decade or more of lagging behind the West, analysts said.

The merger was first announced last year. Putin signed the decree setting it in motion on Tuesday.

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