The report said that an average monthly payment of US $ 80,000 to 1,25,000 has to be made for the maintenance of A-320 Airbus aircraft. According to experts, maintenance costs are leaving airline companies breathless.
It has been almost three years since the Ukraine-Russia war. Both countries continue to attack each other. Russia has been accused of prolonging this war. Meanwhile, Russian media reports say that Russia’s aviation industry is falling into a major and imminent crisis. A report by Russian daily Izvestia says that 30 Russian airline companies are on the verge of bankruptcy. These 30 companies collectively bear 25 percent of the domestic passenger traffic but may go bankrupt by 2025 due to increasing financial burden.
These aviation companies, which are facing bankruptcy, are small and medium sized, which have taken foreign aircraft on lease. Because of this they have a heavy debt burden. After the war broke out with Ukraine, Western countries have imposed economic sanctions on Russia, due to which they are suffering economic losses. Most of the 30 companies have stopped paying installments on aircraft leases, due to which their debt burden has further increased. Although President Putin has planned some loan waiver to provide relief to these companies, it has increased the tax burden on these companies.
25 percent tax burden also
It has been said in the report that if the government writes off the debt of these airline companies, then they will have to pay tax up to 25 percent on that amount. This will further increase the burden on aviation companies. Most of these companies leased aircraft registered in Bermuda, Ireland and Europe. Due to sanctions imposed by the US and other Western countries, these airlines have had to depend on companies from Iran, Turkey and China for maintenance services. This has made their costs even higher.
Maintenance of planes left me breathless
The report said that an average monthly payment of US $ 80,000 to 1,25,000 has to be made for the maintenance of A-320 Airbus aircraft. According to experts, maintenance costs are leaving airline companies breathless. Let us tell you that after the war broke out with Ukraine in March 2022, western aircraft manufacturing companies like Airbus and Boeing have stopped the supply of aircraft spare parts and other assistance. To overcome these losses, Russia has invested 12 billion US dollars in the aviation sector, yet the crisis has not been averted.
Flights have to be cancelled, pilots are leaving their jobs
Due to the financial crisis, everyone from pilots to other staff have left the job. This has had a negative impact on aircraft operations. Due to lack of staff, 68 flights had to be canceled at Sheremetyevo International Airport in July alone. Russia is seeking help from neighboring smaller countries to overcome this crisis. The report said that Russia is in talks with other Central Asian countries including Kazakhstan and Uzbekistan to facilitate it in operating domestic flights. The Russian Transport Minister has confirmed this.
