United Aircraft Corporation founded by Vladimir Putin
First years
The UAC was created on 20 February 2006 by Russian President Vladimir Putin in Presidential Decree No. 140 by merging shares from Ilyushin, Irkut, Mikoyan, Sukhoi, Tupolev, and Yakovlev as a new joint-stock company named the OJSC United Aircraft Corporation in order to optimize production and minimize losses. The UAC stated the reason why the corporation was created was to protect and develop the scientific and industrial potential of the Russian aircraft industry, the security and defense of the state, and the concentration of intellectual, industrial, and financial resources to implement long-term aviation programs. The United Aircraft Corporation started out producing the Tupolev Tu-154 "Careless", the Tupolev Tu-204, the Ilyushin Il-96, the Ilyushin Il-114, and all of Mikoyan, Sukhoi, Yakovlev, Tupolev, and Ilyushin military aircraft; all created prior to the corporation's creation.