How Russian Oligarchs Conduct Business in the Air

Meg Godlewski

Monday, February 28, 2022 at 06:22 PM ET

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The Gulfstream G650 often used by Vladimir Potanin, former first deputy prime minister of Russia. [Photo: Anna Zvereva]

Key Takeaways:

Russian oligarchs, defined as wealthy business leaders with political influence, extensively utilize private aviation, owning diverse aircraft fleets registered in various countries globally.
The immense wealth of these oligarchs often originated from controversial post-Soviet privatization programs, such as the "loans-for-shares" scheme.
Examples of prominent oligarchs and their substantial aircraft include Vladimir Potanin (Gulfstreams), Norilsk Nikel (Mil Mi-8MT helicopters), and Roman Abramovich (Boeing 787, Airbus A319, business jets).
At least two oligarchs, Oleg Deripaska and Ukrainian-born Mikhail Fridman, have reportedly used their position to advocate for peace, speaking out against the war.

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There are those who say that you cannot conduct business on a global scale without aviation—it does not matter what part of the world you are in. Russia is no different—it has its share of millionaires and billionaires who use a variety of aircraft ranging from turbine helicopters to executive-outfitted Airbus A319s.

These high-net-worth individuals are collectively known as Russia’s “oligarchs,” a fancy word for a very rich business leader with a great deal of political influence. The aircraft used by this group are registered in the Russian Federation, Germany, Austria, the Cayman Islands, the Isle of Man, Hong Kong, Aruba, and the United States.