Sergei Chemezov, Rostec CEO, will personally lead the consolidation process after appointing himself to lead the UAC Board of Directors, Rostec announced on March 18.
Sixteen Republican Senators signed on to a letter urging the chamber’s leadership to extend the CARES Act Payroll Support Program (PSP) until March 2021, signaling growing bipartisan consensus that more aid will be needed to avert mass layoffs this fall.
The Russian government plans to save United Aircraft Corporation (UAC) after the country’s only aircraft manufacturer almost doubled its net loss in 2019.