Russia’s OAK Poised to Acquire LET Kunovice

In an ongoing effort to rebuild the once-dominant Russian aircraft industry, state-run United Aircraft Corporation (OAK) is poised to acquire Czech manufacturer Aircraft Industries. The Czech company, more widely known as LET Kunovice, was acquired last year by Russian metals producer Ural Mining and Metal Company (UGMK) which purchased 51% of the company’s shares. UGMK co-owner Iskander Makhmudov expects his company to exercise a call option on LET’s remaining 49%, allowing him to maintain a minority stake once the OAK transaction is completed.

Financial details of the proposed deal haven’t been made public.

LET Kunovice (www.let.cz)
LET Kunovice began as a small aircraft repair facility in 1936, in the south-eastern Czech city of Kunovice. LET currently produces several aircraft including the L 410 UVP-E20 and L 420 passenger planes, all of which are EASA and FAA certified.

In addition to its manufacturing capabilities, LET also operates an aviation training school for aircraft mechanics and still offers maintenance and repair services at it Kunovice facilities.