At the initiative of the Ministry of Defense, the Cabinet of Ministers has provided state guarantee for loans of up to UAH 1.148 billion that the Antonov state aircraft manufacturing enterprise plans to use to finance production of An-148-EA aircraft – a modification of the An-148 aircraft with VIP cabins (a three-class layout). The government issued the relevant decree on 25 December 25.
To obtain the government guarantees, Antonov must submit a draft loan agreement approved by the Ministry of Defence, information about the loans obtained together with a timetable for their repayment and servicing, and proof that it owes no debts on taxes and fees.
Antonov’s net profit increased tenfold from UAH 27 million to UAH 271 million and its net revenue increased by 42% from UAH 1.335 billion to UAH 1.894 billion in the first half 2015, compared with the corresponding period of 2014.
As the Ministry of Economy noted in its report on the operations of Ukraine’s largest state-owned enterprises in the first half of 2015, the Antonov state aircraft manufacturing enterprise has outstanding domestic bonds worth UAH 580 million with a coupon of 10-11% per annum; the bond was issued in 2009, and it will mature in May 2015. According to the ministry, Antonov produced seven aircraft in 2013 and two in 2014.