Western companies can lose hundreds of aircraft

Western companies can lose hundreds of aircraft listed in the leasing by Russian airlines, reports Deutsche Welle.

It is reported that the Ministry of Transport of Russia on Thursday, March 10, introduced a bill to the State Duma, which allows to register the rights to foreign aircraft that are in leasing from Russian companies, and give them Russian airworthiness certificates.

The document notes that this will allow you to “ensure the smooth operation of the transport industry in Russia.”

In accordance with the sanctions imposed in response to Russia’s invasion of Ukraine, Western leasing companies must terminate contracts with Russian airlines no later than March 28. It remains unclear whether they will receive back their own property.

According to the draft law of the Russian government, the Special Government Commission in the event of termination of one or another contact will decide whether the plane is returned to the owner or transfer it to the ownership of Russia.

It is noted that almost 780 aircraft in Russia are in leasing, including 515 foreign. Possible losses of Western leasing companies, according to analysts, can be $ 10 billion