OREANDA-NEWS. June 9, 2012. The open joint-stock company “Ilyushin Aviation Complex”  (JSC “IL”)  held an annual shareholders’ meeting chaired  by  O.F. Demchenko, Chairman of the Board of Directors.

The meeting summed up the Company’s business results of the past year along with taking corporate actions.

The JSC “IL” General Director - Chief Designer V.V. Livanov reported on the Company’s business results and development prospects.    

V.V. Livanov stated that the Company is a part of JSC “United Aircraft Corporation” which units Russia’s major aircraft companies. In accordance with the JSC “UAC” strategy, JSC “IL” specializes in the development of transport aviation.

In the accounting year the Company finalized production and preparation for flight testing of the new modernized IL-76 type aircraft at the "Aviastar-SP" plant in Ulyanovsk; aircraft serial production will be launched in 2014.

Two IL-76MF aircraft were manufactured and delivered to Jordan in accordance with contract schedule.

Contracts for the overhaul and delivery of ten IL-76TD aircraft were signed with foreign customers.

Overhaul and modernization of earlier produced IL-76 aircraft were carried out by the Company’s production base in the city of Zhukovsky and Russia’s Ministry of Defense overhaul plants.

Volume of services provided by the Company in 2012 rose by 96% in comparison with 2011 and made up RUB 5.66 bln. Output per employee reached RUB 2.36 mln, one of the best in Russian aviation industry.

JSC “IL” year-end net asset value exceeded RUB 4.67 mln.

At the meeting V.V. Livanov announced even more ambitious Company’s plans for the year 2012, including maiden flight of IL-76MD-90A in Ulyanovsk, participation in the international Indo-Russian development program of  multirole transport aircraft MTA and accomplishing a series of large-scale projects of “Ilyushin” aircraft modernization and airworthiness support.

The amount of already signed or in execution contracts for the coming years exceed RUB 14 bln.

During the meeting a new Board of Directors of JSC “IL” was elected for 2012-2013 including the following members: Velmozhkin S.V., Dementyev S.G., Demchenko O.F., Yermolov V.O., Konosov S.N., Livanov V.V., Sergeyev S.A., Sukholinsky P.R., El Said A.F.

The following members were elected for the Auditing committee: Aistova S.L., Anikina O.V., Bezrukov D.A., Sokolova N.V., Shchukina A.E.

FinExpertiza Ltd was approved as Company’s auditor for 2012.