Air transport Russia is nationalizing aircraft leased from abroad – the value of leased aircraft is more than $ 10 billion

Foreign companies have leased more than 500 aircraft to Russia. The value of the machines left in Russia is estimated at more than $ 10 billion.

Russian The government is proposing to the country’s parliament that aircraft leased by Russian airlines from abroad could be registered as the property of the airlines, according to Reuters.

Russian airworthiness approvals will also be issued for the leased aircraft.

The Russian government has previously instructed companies to stop international flights and bring planes to Russia this week by Tuesday. Russian airlines have collected most of their aircraft leased to Russia out of the reach of their owners.

More than 500 aircraft have been leased to Russia by foreign companies, and only a small number of them have been returned. The value of the machines left in Russia is estimated at more than $ 10 billion.

Western countries According to the sanctions imposed by the Russian Federation, the leased aircraft should have been confiscated from the Russian airlines.

Technically, the rental company owners have until March 28 to return the machines from Russia due to the sanctions. This now seems to be a dream come true for most machines.

Although Russia is giving its own airworthiness approvals to the planes it has taken over, keeping the planes safe in flight can be challenging for a longer period of time.

Boeings and Airbuses used by Russian companies do not receive spare parts from manufacturers and their suppliers due to sanctions, writes Wall Street Journal. It is unclear how long aircraft can be safely flown without these maintenance.

“Do passengers want to fly planes that have not been serviced according to the manufacturer’s maintenance schedule and that may not have been serviced with approved or new parts?” asked the director of the aviation consulting firm Ascend by Cirium, who was interviewed by the Wall Street Journal Rob Morris.

“I personally wouldn’t,” Morris said.

Even before According to the Russian government’s latest exit, those companies that had leased planes to the country had begun to prepare for the loss of their planes.

Leasing companies are Bloombergin for example, hired lawyers to review their insurance and reinsurance contracts for losses.

The companies have also been investigating complex financing arrangements to avoid running into sanctions.

Corrigendum 10.3.2022 at 17.48: Last sentence corrected. Earlier in the story, it was wrongly said that the companies had tried to find complex financing arrangements that would allow them to avoid the effects of sanctions against Russia.

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