The agreement aims to establish a framework for commercial, development, and production cooperation on the new AI-PBS-350 3,400 N turbojet, which will be a joint product of PBS and Ivchenko- Progress SE and will be available to customers from mid-2023. The agreement also includes an extended cooperation agreement to identify new joint commercial and development projects in the aerospace, defence, and energy industries.

The signing of the MoU with Ivchenko-Progress is part of the ongoing development of cooperation with Ukrainian companies, which is mutually beneficial and is aimed at long-term cooperation in the future.