As many as 589 Western-built aircraft worth about $13 billion wait on ramps at Russian airports. [File photo: Adobe Stock]
Key Takeaways:
Hundreds of Western-built aircraft, valued at approximately $13 billion, are stranded in Russia due to Western sanctions following the invasion of Ukraine.
Leasing companies, primarily European, face significant potential losses and fear their aircraft could be confiscated by the Russian government.
Despite a March 28 deadline to terminate contracts and retrieve planes, airspace restrictions and hostile conditions make recovery extremely difficult for lessors.
Hundreds of leased aircraft are stranded in Russia, aviation consultants say, as a result of airspace restrictions stemming from Western sanctions following Russia’s invasion of Ukraine.
As many as 589 Western-built aircraft worth about $13 billion wait on ramps at Russian airports across that country, according to data and analytics company Russell Group.
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Jonathan Welsh is Lead Editor of Aviation Consumer and a private pilot who worked as a reporter, editor and columnist with the Wall Street Journal for 21 years, mostly covering the auto industry. His passion for aviation began in childhood with balsa-wood gliders his aunt would buy for him at the corner store. Follow Jonathan on Twitter @JonathanWelsh4
