Italian aerospace firm Leonardo has cut its shareholding in the SuperJet International joint venture to a minority.

SuperJet International is responsible for selling the Russian-built Sukhoi Superjet 100 to Western markets and offering aftersales service for the type.

Leonardo, which formerly held 51% of the Venice-based venture, confirms its current stake is just 10%.

It also confirms the 90% majority is owned by the "other shareholder" in the venture, namely Russia's United Aircraft, through its Sukhoi arm.

Leonardo had formerly been a partner in Sukhoi Civil Aircraft, which manufactures the Superjet 100, but last year revised its shareholding agreement with Sukhoi.

This agreement involved Leonardo's exiting the production programme by selling its minority share of Sukhoi Civil Aircraft to the Sukhoi holding.

Leonardo states, in its annual report for 2016, that the revised agreement also "entailed the acquisition of control by the Russian partner over SuperJet International".

No financial terms have been disclosed. But Leonardo says: "The transaction also entailed an agreement on the repayment and rescheduling of... SuperJet International's debt to [Leonardo], backed by specific bank guarantees."

Leonardo categorises SuperJet International as having "left the scope of consolidation" following the shareholders' agreement.

This article has been updated to clarify the current ownership status of SuperJet International

Source: Cirium Dashboard