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Wednesday, May 17, 2006

Sukhoi Runs Dry*

RIA Novosti reports that Russia's much-vaunted Sukhoi jet manufacturer is virtually bankrupt:

MOSCOW, May 17 (RIA Novosti) - Sukhoi Company has announced that its net profit for 2005 fell 97.4% year-on-year to 31.5 mln rubles ($1.17 mln) from 1.23 bln rubles ($44.8 mln). The Russian aircraft producer said revenue during the period declined 81% to 6.76 bln ($250 mln) from 36.35 bln (1.34 bln) in 2004. The company said revenue had fallen in 2005 due to low sales because deliveries under most current contracts are scheduled for 2007.

*NB: that is a play on words for those who speak Russian

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