Russia spends $12 billion to boost aviation sector after Western sanctions bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.
Russia has handed out more than US$12 billion (S$15.95) in state subsidies and loans to keep its aviation sector afloat since Western sanctions over Moscow's invasion of Ukraine cut off supplies of key parts and maintenance services, a Reuters analysis shows. Dependant on foreign-made aircraft, Russia faces the daunting task of developing its aviation industry alone with domestically sourced parts,.
Russia has handed out more than $12 billion in state subsidies and loans to keep its aviation sector afloat since Western sanctions over Moscow's invasion of Ukraine cut off supplies of key parts and maintenance services, a Reuters analysis shows. Dependent on foreign-made aircraft, Russia faces the daunting task of developing its aviation industry alone with domestically sourced parts, while buying aircraft from foreign lessors to avoid more of its fleet being seized. Western planemakers Airbus and Boeing halted supplies of services and spare parts in March 2022 and dropped regular maintenance support for flag carrier Aeroflot and other Russian airlines.