OREANDA-NEWS. July 20, 2007. UTair Engineering OJSC suspended additional issue placement since July 19, 2007.

The additional issue is worth 5 mln rub that is 100% of the company's authorized stock capital. The issue placement was suspended because of bringing alternations to the decision on securities issue.

The placement was suspended by the decision of the Bench of Directors.

The issue that was planned to be issued under public subscription includes 5 mil common stocks at 1 rub par value. FFMS of Ural Federal region registered the issue under 1-01-00423-F-003D serial number on May 23, 2007.

The offering price of one share is 8 rub.
UTair-Engineering specializes on helicopters' maintenance. YuTair holds 55.81% stake of its common shares. UTair-Engineering's authorized capital stock makes 5 mil rub and consists of 5 mil common shares at 1 rub par value.

UTair is one of the leading Russian airlines, and has the largest helicopter fleet in the world.

The company performs flights on the territory of RF and abroad.
Company's net profit under RAS increased more then twice in 2006 and made 263.895 mil rub, revenues grew by 43.2% to 16.140 bln rub.

As predicted the company's net profit will increase 1.6 times to 645 mil rub in 2007. Operational profit is planed to be 1.5 bln rub.