MOSCOW (Pakistan Point News / Sputnik - 19th April, 2023) The Russian government has allocated 300 billion rubles ($3.66 billion) to Russian air companies Aeroflot and Aurora for buying back aircraft from foreign lessors, Russian Deputy Transport Minister Igor Chalik said on Wednesday.
"As a first step, we allocated 300 billion rubles for Aeroflot and Aurora. Further (allocation of funds) will depend on the effectiveness of negotiations between airlines and lessors," Chalik told reporters.
At the same time, the ministry agreed with the airlines that they would participate in the co-financing of aircraft's buyout, Chalik added.
The European Union banned the supply of civil aircraft and spare parts to Russia and obligated lessors to terminate contracts with Russian airlines after Moscow launched its special military operation in Ukraine in February 2022. Aircraft maintenance and insurance services have also been banned, while the EU, the United States, Canada and a number of other countries have closed the skies for Russian aircraft.
