Russia War Update: It has been almost 3 years since the war in Ukraine. Both countries are attacking each other. Putin has been accused of prolonging the war. Russia’s aviation industry is stuck in a new crisis. According to a media report, daily Izvestia said that 30 Russian airlines are on the verge of bankruptcy. These 30 comp.es carry 25 percent of the country’s passengers. But due to financial burden, the debt burden is expected to increase in 2025.
Most of these comp.es have hired planes from abroad.
Western countries have imposed economic sanctions on Russia since the beginning of the Ukraine war. Therefore Russia is suffering economic losses. Most of these 25 comp.es have now stopped leasing aircraft. Putin has planned loan waiver for those comp.es. But the tax burden on those comp.es has increased significantly. These comp.es are taxed at 25 percent. Originally it was 28 percent. Which will have to be reduced.
The maintenance of A-320 aircraft costs 80 thousand to 1 lakh 20 thousand dollars per month. Due to this, many domestic flight services have had to be cancelled. Pilots are leaving their jobs due to lack of pay. In such a situation, it becomes difficult to operate planes. Due to staff shortage, 68 flights had to be canceled at Sheremetyevo International Airport.
To get out of this crisis, Russia is seeking help from small neighboring countries including Kazakhstan and Uzbekistan and many small Central Asian countries. So that domestic flights can continue. Russia’s Transport Minister has also confirmed this.
