According to investment firm Jefferies Group, the Russian aircraft fleet can be largely shut down within a few years. This will happen if the sanctions continue, which prevents the supply of spare parts for machines manufactured by Boeing and Airbus, writes Bloomberg.
According to Bloomberg, “Russian air transport may disappear due to aircraft not being properly serviced.” “Over the next six months to a year, maybe there will be no problem, but then the parts will break and you will need replacements. Problems in the security field will likely start,” said analyst Jeffreys Sheila Kahyoğlu during a conference call on Tuesday about the consequences of the Russian invasion of Ukraine.
Cahyaoglu added that commercial aircraft require extensive servicing, usually every six years. According to her, due to the lack of the necessary components, this will not be possible. – She emphasized that people in Russia would not be able to move using this mode of transportation.
Aircraft in Russia ‘sink money in six years’
Economic sanctions mean the prospects for air travel – domestic and international – for people in Russia look increasingly uncertain. There are 789 commercial aircraft in Russia – about 2.7 percent. Global Fleet, Jefferies reported. According to the airline’s website, national airline Aeroflot owns 187 aircraft with an average age of 6.3 years.
Most of the aircraft used by Russian airlines are leased from foreign leasing companies, including the holding company AerCap. Russian authorities want to seize some of them, putting the fate of machines worth about $10 billion on the line, Bloomberg writes.
According to Kahyaoglu, there is almost no hope that foreign owners will take back their planes, which may eventually become worthless. We wish you success in getting any plane out of Russia. They will sink the money in six years, the analyst said, because the Russians won’t be able to get the parts.
Sanctions against Russia – aircraft leasing
On March 10, 523 aircraft were leased from abroad in Russia, Bloomberg reported, citing data from an IBA consultant. Of these, 142 are owned by Dublin-based AerCap, the world’s largest aircraft leasing company, and 35 are owned by SMBC Aviation Capital Ltd.
Under EU sanctions related to the invasion of Ukraine, Irish lessors have until March 28 to cancel their contracts.
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