The 90% state-owned United Aircraft Building Corporation incorporates commercial and military aircraft makers, such as Sukhoi, Ilyushin, and Tupolev, as well as companies involved in distribution, including Aviaexport.
"The budget, consisting of two parts, has been approved," Alexei Fyodorov said. "The first part is the budget for the corporation's operational activities, which is 600 million rubles [$22.9 million]."
The second part of the budget, he said, concerns the corporation's obligations on the offer to buy out the shares of private stakeholders of the Russian aerospace holding Irkut, adding that the sum of the offer has not been determined yet.
Fyodorov also said the corporation plans its IPO in 2008, to enter lists of Russian trading floors this year, as well as to work out and approve a corporate development strategy by the end of May.
