{"id":21941,"date":"2022-06-28T11:46:54","date_gmt":"2022-06-28T06:16:54","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=21941"},"modified":"2022-06-28T11:48:43","modified_gmt":"2022-06-28T06:18:43","slug":"russia-declared-to-invest-14-5-billion-in-its-aviation-sector","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2022\/06\/28\/russia-declared-to-invest-14-5-billion-in-its-aviation-sector\/","title":{"rendered":"Russia declared to invest $14.5 Billion in its aviation sector"},"content":{"rendered":"\n

Russia has today announced plans to invest over $14 billion in its aviation industry by the end of the decade to increase domestic aircraft production. The goal is that 81% of aircraft operated by Russian airlines will be domestically built by 2030, according to Deputy Prime Minister Yury Borisov\u2019s comment in a televised meeting of government officials.<\/strong><\/p>\n\n\n\n

Following its invasion of Ukraine and subsequent sanctions, Russia is now turning to domestic aircraft production in an attempt to fix its growing aviation crisis<\/em><\/p>\n\n\n\n

Russian airlines <\/h2>\n\n\n\n

Russian airlines<\/a> saw the delivery of new western planes, such as two A350s bound for Aeroflot, revoked after it invaded neighboring Ukraine. Western aircraft manufacturers are also unable to service or export spare parts to Russia, which will make it difficult for airlines to safely use these aircraft in the future.<\/p>\n\n\n\n

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Russia airlines| Aviationa2z.com<\/strong><\/figcaption><\/figure>\n\n\n\n

Airliners that were on lease to the country from Western companies have been repossessed, and while those inside Russia have been seized, this is only a temporary solution for the reasons outlined above.<\/p>\n\n\n\n

The prohibition on the import of spare parts is a major worry for carriers like Aeroflot. At the beginning of 2022, Aeroflot worked a fleet of 187 aircraft, just 10 of which were not from Airbus or Boeing. As a result, the airline is looking to place a 300-strong order with Russian-owned United Aircraft Corporation, according to the Vedomosti business newspaper.<\/em><\/pre>\n\n\n\n
According to the paper, Aeroflot was looking to buy the Irkut MS-21 medium-range aircraft, also known as the MC-21, which can carry more than 200 passengers and is due to enter service this year.<\/p>\n\n\n\n
This declaration by the government is only the latest in a series of moves aimed at propping up the country\u2019s ailing aviation sector. Earlier in June, the Russian government confirmed that it would invest up to $1.74 billion in the nation\u2019s flag carrier. This comes on top of the $1.3 billion COVID-19 loans previously provided to the airline.<\/p>\n\n\n\n
Also, read    <\/strong><\/p>\n\n\n\n