WORLD Russia to spend $14.5b to boost local aviation industry amid sanctions

WORLD

Russia to spend $14.5b to boost local aviation industry amid sanctions

CGTN

18:53, June 28, 2022

A MS-21 medium-haul aircraft. (Photo: CFP)

The Russian government announced plans on Monday to invest 770 billion rubles (about $14.5 billion) in the domestic aviation industry by 2030, boosting the share of locally-manufactured aircraft, according to Reuters.

Since the West imposed sanctions on Russia in response to its "special military operation" in Ukraine, the country's aviation industry has been banned from flying to Europe, the U.S. and other countries.

As a result, Russian airlines have largely stopped international flights. Moscow passed a law allowing the seizure of hundreds of jets in response to those sanctions after leasing companies said they would seize planes in line with sanctions.

In addition, foreign plane manufacturers have stopped delivering new aircraft to Russia, and spare parts of foreign-built planes are in short supply.

Locally-built aircraft to cover 81% of national total by 2030

Russia's Deputy Prime Minister Yury Borisov said in a televised meeting of government officials that "the share of domestically produced aircraft in the fleet of Russian airlines should grow to 81 percent by 2030."

Though Russia has been pushing to localize aircraft production, only the Sukhoi Superjet regional aircraft is mass-produced inside Russia, while a significant number of its components including vital engine parts are still imported.

1,000 new locally-built aircraft to be delivered by 2030

Russia is preparing to mass produce the MS-21 medium-haul aircraft which also has some foreign components, and the country is planning to manufacture a small number of Soviet-designed Tu-214 in the near future.

According to the government's plans, Russian airlines should receive about 1,000 new locally-built aircraft by 2030.

The Russian Vedomosti newspaper reported that Aeroflot, the largest Russian air carrier, could soon sign a contract with the state-owned United Aircraft Corporation (UAC) for the purchase of 300 new aircraft, though neither side could be immediately reached for comment.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue