UAC Expects Profit in 2026 and Beyond, CEO Says

United Aircraft Corporation (UAC, part of Rostec) expects to post a profit in 2026 and maintain positive financial results in the coming years, CEO Vadim Badekha said in an interview with TASS ahead of the St. Petersburg International Economic Forum (SPIEF).

"Yes. Our objective for the coming years is to remain profitable on a regular basis, achieve stable cash flow, and year after year demonstrate to shareholders that we are a profit center rather than a source of problems and costs," he said in response to a question on whether UAC expects to generate profit this year and next year.

According to Badekha, UAC stopped generating losses in 2025. He noted that the company had worked on improving economic efficiency, and that these efforts had produced results. UAC's net profit under IFRS totaled 9.5 billion rubles ($131.6 million) in 2025, compared with a loss of 14.2 billion rubles ($196.7 million) a year earlier, according to the company's previously published report.

Asian Markets Show Interest

Badekha also detailed growing interest from Asian countries in Russian civilian aircraft, with the Il-114-300 generating the greatest interest. "Other countries interested in our aircraft are primarily considering them as operators. These are first and foremost Asian countries. The Il-114-300 is generating the greatest interest -- Southeast Asian countries require a large number of such aircraft," he said.

Foreign airlines are waiting for the aircraft to enter operation in Russia. "I am convinced that after operations begin, when foreign customers see that the MC-21-310, SJ, and Il-114-300 perform well, this interest will turn into contracts," Badekha noted. Deliveries of the first Il-114-300 aircraft are scheduled for this year.

India's Demand for Russian Aircraft

India has emerged as a particularly strong market. "India was the first to show serious interest in our aviation equipment. We participated in Wings India, where we showcased the SJ-100 and Il-114-300. Indian airlines have expressed demand for the Il-114-300 and SJ-100; we are talking about 100-200 aircraft," Badekha said. He described India's need for such aircraft as significant.

The UAC signed an agreement with India's HAL on the possible licensed production of the SJ-100 at their facilities. Badekha earlier told journalists that the production of the first Superjet aircraft in India could begin in three years. He called a production rate of 20-40 units per year a "good pace," and estimated the potential of the Indian and nearby markets at 200-300 aircraft. The UAC believes the Il-114-300 should also be localized in India. In addition to the HAL agreement, the UAC signed a preliminary agreement for the supply of six Il-114-300 aircraft with the Indian private company Flamingo Aerospace.

Production Plans for Il-114-300

Regarding production, UAC estimates the volume of the Il-114-300 at 6 to 12 per year depending on demand, with the first aircraft to be produced in 2026. "We estimate the planned production volume between 6 and 12 per year depending on demand. We don't foresee any issues with the production of this aircraft; the first aircraft will be produced this year," Badekha said. Several regions are competing to receive the first batches of Il-114-300s, he added. "We believe we will meet the existing demand," he noted.

The Il-114-300 is being developed in cooperation with Rostec state corporation enterprises under the auspices of the Il company of the United Aircraft Corporation. It is a modernized version of the Il-114 turboprop aircraft.

Considering Private Investment

UAC is also considering the possibility of attracting private investment in the future, but must first achieve sustainable financial performance indicators. "Our immediate goal is to reach a position where we will be able to attract such investments, should a decision be made. The possibility depends on the timing and on whether such a mechanism would be of interest to us, but our goal for the coming years is to become profitable, efficient, and transparent," Badekha said.

The comments came ahead of SPIEF, which is taking place June 3-6 under the theme "Pragmatic Dialogue: The Path to a Stable Future." Saudi Arabia is the guest country at the forum.