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Boeing Flew Off the Agenda
// of Aeroflot board of directors
Russian government officials have not yet chosen the supplier of long-haul aircrafts for Aeroflot. For a year already, they have been wavering between US company Boeing and European company Airbus. Aeroflot’s board of directors decided to take this issue off the agenda, because the state guideline for voting is not ready yet. National Reserve Corporation (NRK), the private shareholder of Aeroflot, intends to sue the state owner. Lawyers interviewed by Kommersant believe that NRK has good chances to win the case. It can recover damages to the amount of some $500 million, force Aeroflot to make the deal, or to dispute the directive voting procedure.
The issue of approving the purchase of 22 long-haul Boeing 787 aircrafts was taken off the agenda in the very beginning of Aeroflot CEOs’ meeting. According to a source in the Kremlin, President Vladimir Putin personally crossed the deal with Boeing out of the list of US-Russia business projects after US Department of State’s sanctions against Russian state companies Sukhoy and Rosoboronexport.
President of Boeing in Russia and CIS Sergey Kravchenko refused to tell Kommersant yesterday whether the company will prolong the deadline of its offer to Aeroflot. Meanwhile, the private shareholder – NRK – has already promised to make claims to Russian government.
Lawyers give various predictions. Many of them believe NRK has good chances to win. Yet, it will be difficult to prove the guilt of the CEOs board, because the latter act on the basis of the guideline. However, NRK has the chance of forcing Aeroflot to sign the agreement with Boeing through arbitration court, the decisions of which are irrevocable.
www.kommersant.com
All the Article in Russian as of Sep. 16, 2006
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