United Aircraft Corporation (UAC), the Russian state-owned aerospace company, will divest from the Sukhoi Superjet 100 program following an investment from a United Arab Emirates (UAE)-based capital firm, Markab Capital. According to SuperJet International, an Italy-based company and a now-former subsidiary of UAC, Markab Capital acquired 49% of the Russian company’s shares. As a result, the “UAC shall effectively exit the Superjet Program”, ending its participation in the Superjet 100 project.
SuperJet International was established in 2007 as a company to market, sell, and maintain the Sukhoi Superjet 100 in western markets in Venice, Italy. At the beginning, the Italian company had two shareholders, namely Sukhoi (51% stake) and Italy-based aerospace company Leonardo (49%). In 2016, Leonardo reduced its stake to 10%, giving over the majority of shares to the Russian company, which in 2022, was merged into the UAC.
However, with Russia invading Ukraine in February 2022 and subsequent sanctions imposed upon the country, the Italian Guardia di Finanza (GdF) froze the assets of SuperJet International relating to the 90% stake held by UAC. The GdF froze around €150 million ($159.2 million) of assets, including five aircraft in May 2022. Going forward, Markab Capital will hold 49% of the shares in SuperJet International, while Italian law firm Studio Guidotti International will hold a 41% stake. Leonardo will retain its 10% stake.
The acquisition and reform of the shareholding structure are pending regulatory approvals from Italian and Russian regulators, which would unfreeze SuperJet International’s assets.