Explainer: How headwinds from sanctions on Russia are battering global aviation
Russia’s size and close integration into the global aviation industry since the end of the Cold War means sanctions related to its invasion of Ukraine are having outsized consequences relative to earlier freezes on Iran and North Korea. Russian President Vladimir Putin gestures during his visit to Aeroflot aviation training complex outside Moscow on March 5, 2022. Manufacturers, lessors, insurers and maintenance providers to Russian carriers like Aeroflot, S7 Airlines and AirBridgeCargo are among those outside Russia that are hit directly by sanctions. Foreign airlines, meanwhile, are reeling from higher oil prices and longer routes needed to bypass airspace over Russia that are expected to drive up ticket prices and air freight rates. Aircraft leasing, insurance impact. Russian airlines have been highly reliant on the global aircraft leasing industry to modernize their fleets with the latest Airbus and Boeing planes. Russian carriers have 980 passenger jets in service, of which 777 a...