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Leased Aircraft Stranded in Russia Becoming a Safety Issue.
Leased Aircraft Stranded in Russia Becoming a Safety Issue.
From the NY Times:
Originally posted by NYTimes
As of Thursday, there were 523 aircraft leased to Russian carriers by companies outside the country, according to IBA, a consulting firm. Of those, 101 are on lease to S7 Airlines and 89 to Aeroflot.
“The general consensus is: That’s it, we will not be able to recover them,” said Vitaly Guzhva, a finance professor at Embry-Riddle Aeronautical University.
While a few planes may have been recovered abroad before international flights were halted, they are of little use to their owners without the meticulous maintenance records that accompany every aircraft and are often stored by airlines themselves, experts said. And the longer a plane is stuck in Russia, the greater the concern that work on the jet’s body, engines and flight systems may not be logged, causing its value to plummet.
“Unless you have those records, the aircraft is virtually worthless,” said Quentin Brasie, the founder and chief executive of ACI Aviation Consulting. “They’re literally more important than the asset itself.”
Putin is seizing and nationalizing these foreign assets worth as much as $12B. If they continue to operate, a lack of spares and maintenence services will make them non-airworthy. Prepare for that memory lane version of Russian aviation disasters. A sad and senseless end to all the progress made over the past decades.
Putin also said that they might not recognize the intellectual property of foreign persons and companies. That to be able to continue selling Nike shoes and operating MacDonald's restaurants where the real Nike or MacDonald's are not actually involved in anything except being the creators of the brand and logos.
Who knows, maybe that will make Boeing-branded airplane spare parts.
--- Judge what is said by the merits of what is said, not by the credentials of who said it. ---
--- Defend what you say with arguments, not by imposing your credentials ---
President Vladimir Putin signed a law Monday as part of the government's anti-sanction measures that will allow Russian airlines to register planes leased from foreign companies in Russia, where they will be issued local certificates of airworthiness, according to a statement from the Kremlin.
So that's a done deal. I think we will need a new term for this to distinguish from actual airworthiness.
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