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Story about complications of economic sanctions and aircraft ownership. Despite Russia attempting to nationalize aircraft ownership titles, lingering issues still exist with previous leases and future maintenance. Chinese and Arabian companies are fence sitting to avoid repercussions from west or Russia for future international travel.
Russia has lost 79 planes to sanctions
Posted from cnn.com
Russia
Airplanes
International Affairs
Edited 2 y ago
Posted 2 y ago
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LTC Eugene Chu Oustanding! Hit in them in the Pocket Book. Being a Dick Should be Expensive.
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Economist Larry cudlow says we should seize Vladimir Putin's 700 million dollars a yacht and give it to Ukraine
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LTC (Join to see)
Let me clarify, we should talk to the Italians and get them to seize the yacht and give it to Ukraine
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LTC Eugene Chu
"The sanctions by multiple countries require the international aircraft leasing companies that own the jets to have repossessed them by the end of March. All the repossessed jets were outside of Russia at the time, and the leasing companies have either repossessed them or started the process to do so in court, according to Cirium, an aviation analytics firm that tracks information about aircraft around the world.
When Russia invaded Ukraine on February 24, Russia's air carriers were operating 861 commercial planes, both passenger and cargo jets, Cirium said. Just over half of those planes, with an estimated market value of $9.2 billion, were owned by non-Russian leasing companies.
The Russian aviation industry depends on aircraft built in the West by companies such as Boeing and Airbus, but the planes are owned mostly by US and European leasing companies. The United States and most of Europe closed air space to Russia almost immediately after the invasion, and most of the jets at issue remained in Russia or quickly flew back there.
The Kremlin announced last month that it was nationalizing all the planes that the leasing companies were attempting to repossess and took titles of nearly 500 planes that were in Russia."...
"The sanctions by multiple countries require the international aircraft leasing companies that own the jets to have repossessed them by the end of March. All the repossessed jets were outside of Russia at the time, and the leasing companies have either repossessed them or started the process to do so in court, according to Cirium, an aviation analytics firm that tracks information about aircraft around the world.
When Russia invaded Ukraine on February 24, Russia's air carriers were operating 861 commercial planes, both passenger and cargo jets, Cirium said. Just over half of those planes, with an estimated market value of $9.2 billion, were owned by non-Russian leasing companies.
The Russian aviation industry depends on aircraft built in the West by companies such as Boeing and Airbus, but the planes are owned mostly by US and European leasing companies. The United States and most of Europe closed air space to Russia almost immediately after the invasion, and most of the jets at issue remained in Russia or quickly flew back there.
The Kremlin announced last month that it was nationalizing all the planes that the leasing companies were attempting to repossess and took titles of nearly 500 planes that were in Russia."...
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