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Orsha Aircraft Repair Plant back to black


Orsha Aircraft Repair Plant has resumed stable operation, Chairman of the State Military Industrial Committee of Belarus Roman Golovchenko told the Belarus 1 TV channel, BelTA has learned.

According to him, the company definitely has a future. "The decision made by the president to turn the company into a state-run enterprise was fulfilled. By now Orsha Aircraft Repair Plant has been fully transferred into public ownership. Investment agreements with the previous investors were rescinded. The company's shares were transferred to the State Military Industrial Committee of Belarus," Roman Golovchenko said.

Intensive work was underway last month to find growth points that would help the company maintain uninterrupted operation and preserve its focus on aircraft repair. "We considered several options, including a possibility to merge it into a holding company. However, we finally decided to keep the company as a separate economic operator and a legal entity. We introduced new top management to the labor collective and told people how the new executives would pull the company out of debt. By the way, in October the company managed to balance the books, for the first time in several years. In other words, the company is back in the black. It was due to new orders to repair helicopters," Roman Golovchenko said.

He noted that at present the company is busy repairing helicopters of foreign customers.

"The company will go on. Apart from its traditional competency – repair of helicopters like Мi-8 and Мi-24 – the company is exploring some other lines of business, like drone aircraft," Roman Golovchenko said.