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President Vladimir Putin signed a law Thursday allowing foreign capital to be placed in Russian aircraft companies
President Vladimir Putin signed a law Thursday allowing foreign capital to be placed in Russian aircraft companies. Under the law, the share of foreign capital must constitute less than 25% of the authorized capital of a company, barring a special decision by the president. "The law aims to expand opportunities to attract foreign capital to aviation organizations involved in developing, producing, testing, repairing and/or disposing of aviation equipment," an addendum to the law said. Previously, the share of foreign capital in Russian aircraft companies was limited to 10% of their authorized capital. In addition, the law stipulates that the heads of aviation organizations and their management teams be Russian citizens, except in special cases to be determined by the president. When the bill was considered on a first reading, the share of foreign capital was supposed to increase to 50%, but deputies challenged the provision. The lower house of the Russian parliament then adopted amendments to the bill on a third reading October 6.
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