United Aircraft Corporation has sold its 49% share of the Sukhoi Superjet 100 program to Markab Capital. As a result, UAC has effectively quit the Superjet program, ending its participation in the project, which was first established in 2007.
Markab Capital is a United Arab Emirates-based capital firm.
The new shareholders are planning to inject capital into the program and relaunch the Superjet 100 program by focusing on markets in the UAE and India. Markab Capital will invest around $202.4 million to support the development of new aircraft configurations, the construction of the new SJI branch in the United Arab Emirates, as well as the continuous development of the aircraft to address market competition.”
Camillo Perfido, CEO, Superjet International, said in a statement: "This agreement has great value for our company, as the interruption of industrial and commercial relations with UAC will allow the company to no longer be burdened by the limitations resulting from the sanctioning regulations set by the European Union. SuperJet International will once again demonstrate the excellent technical skills of its employees, who have managed to face a difficult period with integrity and a sense of responsibility.”
After the sale from United Aircraft Corporation, the ownership of the Sukhoi Superjet 100 program stands at - Markab Capital with 49% of the shares; the Italian law firm Studio Guidotti International holding 41% stake, and Leonardo will have a 10% stake.
Superjet International forecasts to have at least 240 aircraft sales, in different versions like passenger, business jet, and cargo. Markab Capital will also establish a new program branch in the UAE at the Al Ain International Airport. This new branch will be a production plant of the Superjet 100 in its basic green version.
Superjet International was initially an Italian based company with 51% stake owned by Sukhoi while remaining 49% owned by Leonardo. In 2016, Leonardo reduced its participation in the project.
Due to Russia’s invasion of Ukraine, the European Union imposed several sanctions on the Russian regime. In Italy, the Guardia di Finanza froze the assets of Superjet International relating to the 90% stake held by United Aircraft Corporation at the time, which had a value of around $159.2 million.