The Russian president Vladimir Putin announced today that the Russian government will provide 100 billion rubles ($ 1.25 billion) in domestic Airlines to help them deal with their consequences international sanctionsimposed in response to Russian invasion of Ukraine.
In a televised statement at the end of a meeting with representatives of airlines and aircraft manufacturers, Putin stressed that domestic flights will receive state subsidies in 2022.
THE 11th largest aviation market in the world is under serious pressure as the US and Europe on the one hand and Russia on the other have each closed their airspace to each other’s airlines.
In addition, Russian airlines can no longer to buy spare parts or maintenance services from Europe or the United States.
Because of sanctionsimposed in response to Russia’s decision to send its armed forces to Ukraine, Western aircraft renters have also been forced to terminate contracts under which Russian airlines lease more than 500 aircraft.
THE Putin said it had instructed the government to work out measures to alleviate the burden of leasing payments to airlines.
Most of the leased planes remain in Russia, which has passed a law allowing them to be registered in its own aircraft register. However, Russian airlines are reluctant to use the law, fearing it could jeopardize ties with international partners.
“As far as lease payments are concerned, let me remind you that a significant portion of them had to be paid to companies from so-called unfriendly countries that breached their contractual obligations,” Putin said.
“In this context, I call on the government to prepare a set of measures to address the problems of lease payments, taking into account, of course, which country this or the other leasing company is based in.”
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