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. Last Updated: 07/27/2016

Russia Is Offered 5% Of A350

Airbus parent EADS formalized an offer to grant Russia a 5 percent stake in its future A350 plane Thursday as Aeroflot reaffirmed an order for 22 of the jets and the two sides inked wider co-operation deals.

A handful of accords signed in Moscow by top EADS and Russian aerospace officials included confirmation of a long-considered plan for Russia to take a 5 percent stake in the 10 billion euro ($13.4 billion) A350, Airbus's next mid-size model.

Details on which parts of the aircraft will be designed and built in Russia have not yet been finalized, EADS said while confirming details of the agreements given earlier by an industry source.

Russia took a 5 percent stake in EADS last year through a state bank, triggering concerns in France and Germany that Moscow was tempted to use its oil wealth to snap up strategic assets in exchange for co-operation in Russian aerospace.

Russia says the stake is purely an investment.

Thursday's agreements were the most detailed cooperation ventures since Russia's share-buying spree in EADS last year, and came days after Aeroflot snubbed Boeing over the plane order that was eventually handed to Airbus and its future A350.

Aeroflot deputy general director Lev Koshlyakov said the A350 deal was so far a letter of intent rather than a firm order and that the planes would be delivered between 2014 and 2017.

EADS and Russia's Unified Aircraft Corporation also agreed to set up a joint venture based in Dresden, Germany, to see through another long-mooted project -- the conversion of A320 passenger jets to freight planes in Germany and Russia.

EADS and UAC also signed an agreement on cooperation in transport aircraft. Russia also agreed that UAC would buy Kaskol group's holding in an Airbus engineering center in Russia.