Russia’s United Aircraft Corporation and Emirati state-owned investment company Mubadala will establish a joint venture to develop a supersonic passenger plane, Minister of Industry and Trade Denis Manturov stated on Sunday.

“The question is what kind of equity participation it will be, as we have not yet discussed this issue. From the UAE side, it will be Mubadala, from our side it will be clear that it will be the UAC or some of its subsidiaries”, the minister said.

He also noted that the plane’s initial design will be presented by the end of 2021 or the beginning of 2022. However, the target specifications of the aircraft have already been determined – it must reach speeds of 1.8 Mach, and will come in two versions – for 8 and for 30 seats.