Russia Plans to Invest Over $14 Billion in Aviation Industry

Deputy Prime Minister Yury Borisov said that the aim is for 81% of the planes operated by Russian airlines to be domestically made by 2030.

Highlights

  • Russia has declared intentions to invest over $14 billion in the aviation sector by the end of the decade.
  • Russia is now turning to domestic aircraft manufacture in an effort to resolve its escalating aviation crisis as a result of its invasion of Ukraine and the ensuing sanctions.
  • While aircraft inside Russia have been seized and aircraft on loan to the country from Western businesses have been repossessed, this is simply a temporary fix.

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Russia plans
In order to increase domestic aircraft production, Russia has declared intentions to invest over $14 billion in the aviation sector by the end of the decade. Deputy Prime Minister Yury Borisov said in a televised meeting of government officials that the aim is for 81% of the planes operated by Russian airlines to be domestically made by 2030.

Russia is now turning to domestic aircraft manufacture in an effort to resolve its escalating aviation crisis as a result of its invasion of Ukraine and the ensuing sanctions.

After it invaded the neighbouring Ukraine, Russian airlines saw the arrival of brand-new western aircraft, including two A350s destined for Aeroflot, cancelled. The inability of Western aircraft manufacturers to provide maintenance or export replacement parts to Russia will make it challenging for airlines to fly these aircraft safely in the future.

While aircraft inside Russia have been seized and aircraft on loan to the country from Western businesses have been repossessed, this is simply a temporary fix for the reasons mentioned above.

For carriers like Aeroflot, the ban on the import of spare components is a serious concern. Only 10 of the 187 aircraft Aeroflot was operating at the beginning of 2022 were not manufactured by Airbus or Boeing. According to the business publication Vedemosti, the airline is seeking to put an order for 300 aircraft with Russian-owned United Aircraft Corporation.

Datchanapriya is a journalism and mass communication student from Chennai. Has always been passionate about writing and connecting with people.

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