It was intended for the first time to offer true blue water naval aviation capability for the Soviet Navy.

To this end, the Soviet government allocated funds to carry out the second large-scale technical transformation of the Black Sea Shipyard, including: Due to the dissolution of the Soviet Union, the amount of funding to complete the carrier was insufficient, and the aircraft carrier construction plan was suspended.

It would have been 85,000 tonnes in displacement (larger than the older Forrestal-class carriers but smaller than contemporary Nimitz class of the U.S. Navy).

Ulyanovsk would have been able to launch the full range of fixed-wing carrier aircraft, as it was equipped with two catapults as well as a ski jump.

The Ulyanovsk air group was to include 68 aircraft with the following planned composition:[1] The ship was equipped with two "Mayak" steam catapults made by the Proletarian Factory in Leningrad, a ski-jump, and four arresting gear.