Russia is seizing Western-built airliners while sanctions block parts, maintenance, and support

[Yo_Mama_Been_Loggin]

Source: Business Insider

On Monday, Russian President Vladimir Putin signed a law that will allow Russian airlines to take control of hundreds of the Western-built planes leased from international firms, Russian news agency TASS reported, per The Wall Street Journal.

The jets will be added to the country's aircraft register and be deployed on domestic routes, according to Reuters. The news comes on the heels of the island of Bermuda revoking the airworthiness certificates for over 700 leased aircraft in Russia, which went into effect Saturday night. Russia had previously banned some international flights to keep the planes from being repossessed.

Following the Russian invasion of Ukraine, the EU has forced aircraft leasing companies to cancel their contracts with Russian airlines by March 28, meaning those foreign planes need to be returned to their owners.

However, Russian authorities and airlines have made the task difficult, and Putin is adding another obstacle.

Read more: https://www.msn.com/en-us/news/world/russia-is-seizing-western-built-airliners-while-sanctions-block-parts-maintenance-and-support/ar-AAV33l2?li=BBnb7Kz

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Putin's kleptocracy rolls on

[SheltieLover]

1. It will be interesting to see how many corp. entities

Are willing to return to russia to do business when this is all over.

[COL Mustard]

5. The Soviet state airline used to be called

Aeroflop...and there was a reason for that. I'm sure there will be some flops coming in Russian airspace!

Seriously, what is Putin thinking? Who in the West is ever going to want to do business with Russia again, after this???

[SheltieLover]

8. I personally never would have.

Precisely like tfg, I detested putrid upon sight years ago. Zero tolerance for scum.

Refused a very competent fiduciary advisor because no env friendly, non-Russian/China investment programs.

Oh well. I hope the nice lady recalls our conversation now.

[Warpy]

9. "Certainly not built for comfort" was the kindest thing I heard

about Aeroflot back in the 80s and 90s when friends were flying over there. No wonder he wants to keep those leased planes.

Nobody's going to lease him anything else, ever again.

[SheltieLover]

12. Aeroflop. Classic russian engineering!

[jaxexpat]

27. Routing commercial flights away from Russian airspace will look awkward.

The big trash dump and abandoned fueling station that is Russia's developed areas will be totally on them to contend with. Wouldn't want to be Russian for the next 20 years.

[pbmus]

6. Koch Industries won't even leave now, cranking out the dark money

Link to tweet

[SheltieLover]

10. What is the penalty?

[jaxexpat]

28. Long term exposure to unapologetic reality.

[SergeStorms]

30. Being paid in worthless rubles?

[IronLionZion]

2. Interested in seeing what it takes for Russians to turn against Putin

As Oligarchs feel it in their bank accounts, they've been publicly calling for an end to the war. I'm sure more of them are doing it privately too.

[Sherman A1]

3. Well, that works for awhile

Until they need parts for those aircraft.

[RockCreek]

15. They can take parts from other aircraft

The size of the fleet will decrease over time, but could keep them going for a while.

[Sherman A1]

17. Agreed

Some of them can become Hanger Queens and provide parts to the ones kept flying, but as you said that only lasts for awhile.

[Gore1FL]

19. Even when this is over who will lease airplanes to Aeroflot?

I doubt anyone will take that risk.

[SergeStorms]

31. Who'll fly on Aeroflop?

An even bigger risk.

The world's oligarchs wouldn't want to chance flying corporate aircraft into Russia. Putin might seize them as well.

Pootie is painting himself into a corner.

[Karadeniz]

4. I don't think this was in the lease agreements.

[FakeNoose]

7. Seizing the planes because they can't pay for them

Very soon Russia will be in default - once and for all.

[BlueIdaho]

11. Here is hoping they all fall out of the skies

Chock full of Putin supporters.

[MiHale]

26. How are we going to get all those republicans over there?

[jaxexpat]

29. Tell them Trump wants them to.

[yaesu]

13. Putin signed away any chance of russia becoming a viable economy under capitalism

in other words he has guaranteed its return to communism.

[Mr. Evil]

24. That's what he wants.

All money and power centralized around and controlled by him. Why do you think russiapublicans are always screaming about communism? Well, with them it's always projection because that's what they want here. All money and power centralized and controlled at the top.

A loaf of bread every 5 days and a new pair of brown or black shoes every year.

[roamer65]

14. Too bad this doesn't happen to them.

[Sherman A1]

18. Nonstop service

To the end of the runway………

[Ford_Prefect]

16. Not only a criminal regime but engaged in piracy as well.

[cstanleytech]

21. Ban all Russian inbound and outbound flights from

ever landing or traveling through western airspace until the companies are completely compensated.

[James48]

22. There are multiple problems here.

International aviation is built on trust. Now no one will be able to legally fly on any of those airlines, AND the future usability in the international aviation community is in jeopardy. In effect, Russian airlines all leased western financed jets; and the last week action was to cut off any and all spare parts, (jets breakdown quickly if there are no parts available), and now both registration and ownership is being contested.

The aviation market has never had this many aircraft yanked all at once out of international service. Once this war is over, I don’t see any way that these aircraft will ever be able to return to their real owners, and they won’t be able to be used for commercial service into the future. The clock is ticking now, and the longer they are not cared for properly, the worse it will be.

If they are out of the control of a ICAO approved registry, then it will be potentially difficult later to review and approve repairs done in this period, by unapproved people. This is more uncharted territory here.

[amcgrath]

23. Russian airlines fly a mix

Of Boeing and Airbus. For Boeing, a 737 can be had for about $90m or a 777 for over $400m. So it’s fair to say, we are probably talking about at least $10b of stolen planes. - planes that will have no warranties if left inside Russia, since they will be serviced without parts from either company.

I don’t know how either companies structure their finances. But both make a range of pretty formidable UAVs and missiles - from short range, to ballistic. If I was looking at a $10b loss to my aircraft division, I might consider donating a few hundred million dollars worth of products from my defence division. Maybe a billion

[Eugene]

25. Airliners are owned by leasing/finance companies.

The figure is about $10 billion to be written off, with Irish companies holding one third to half of it.

Aircraft lessors face billions in write-offs as planes re-registered in Russia (Irish Times)