Russia refuses to return more than 500 planes to Western leasing companies
With the imposition of bans and sanctions on Russia, leasing companies have until March 28 to recover about 500 aircraft currently in the fleets of Russian companies. In this context, Russian airlines have suspended all international flights except those to / from Belarus for fear of hijacking their planes.
So far, only 24 planes have been recovered. The main fear of the leasing companies is that the 500 Airbus and Boeing planes will never be recovered. At the announcement of European and US sanctions against Russia for invading Ukraine, Russian airlines, led by Aeroflot, began moving all planes to Russia. The Russian regulator also demanded that Russian carriers re-register their aircraft in Russia.
Please note that more than 700 aircraft flying in Russian airline fleets are registered in the Bermuda Islands, and today, Bermuda has revoked licenses for 745 Russian planes.
Russia's parliament has also launched a bill that could ban Russian airlines from returning leased planes from Western leasing companies. In addition, this law would oblige Russian carriers to pay any settlement in rubles, the value of which has lost 30% against the dollar. And when a landlord terminates a contract, "special committeeOf the Russian government will decide whether the plane should leave Russian territory.