This is major, but also shouldn’t come as much of a surprise…
Continue reading: Putin Allows Russian Airlines To Steal Foreign Aircraft
Share your questions, experiences, and thoughts below.
No surprise here. A mafia government, headed by the thug-in-chief. Hope to see more and more Russians recognizing that they have no future while this goon in remains in power.
https://www.bbc.com/news/world-europe-60744605
Ukraine will be the graveyard of the Russian army, and the beginning of the end of Putin's shameful reign of terror.
Slava Ukraini!
So they'll just operate domestic flights for the foreseeable future. Maybe to Belarus as well.
Good thing Aeroflot has such a young fleet. Those planes are going to have to last a long time...
No big problem here! Foreign countries have already frozen hundreds of billions of dollars' worth of Russia's foreign current reserves as part of the sanctions against Russia. Just let Putin and his government know that we'll be happy to sell them to him (for a considerable profit) by deducting the value of these foreign aircraft from the amount of money frozen. Thus, whenever the money becomes available again Russia can have back what is remaining minus these deductions. (That can go for any western nations' business assets that they may try to nationalize--we can just gladly sell it to them too--all from their reserves!) Pleasure doing business with you, Vlad.
How long before aircraft need to be cannibalised for spares to keep an ever dwindling fleet flying?
Exactly, about half of their nearly $650 billion in forex/gold is held internationally. Repay the companies whose assets were ¨nationalized¨ and use the rest to rebuild Ukraine.
With Airbus and Boeing unable to provide parts I wonder if China will procure parts on Russia’s behalf.
Puzzling move.
It accomplishes nothing in practice.
And almost no one will even know about it.
Russia has decoupled itself from the west for decades at least. China is trying to figure out how to invade Taiwan and not face the same fate.
All because a couple people can't tolerate others thinking and acting as they want.
Aviation, as always, is a microcosm of the world. The world at its worst is separated and aviation will play that role just as faithfully as it plays its role of bringing the best of the world together.
Not realizing that he's already in a deep hole, Putin continues digging, all but ensuring that he won't be able to get out once he gets his ultimately Pyrrhic victory...
Putin has always been a THUG. I agree, we should just take Russia's foreign reserves and gold stored outside of Russia and just use it to reimburse Ukraine. We should be using Russia's money to compensate Ukraine for all the damage and destruction.
I don't feel sorry for any of the oil companies that will lose billions of dollars. Maybe they will learn a lesson not to get in bed with murderous THUGS.
After these actions, NO ONE should ever feel comfortable investing in any country that has a murderous dictator in charge of their country. Putin made a serious mistake. It's one thing to grow up in Russia without Western influences. But it's another to have the youth grow up basically living like the West. Give this several months or a year and you will see a very different reaction by the typical Russian.
Putin/Russia is doing the something with the yachts owned by his inter circle there was an post today about S A being " D Listed"
What, how dare vlad seize assets of other nations. Doesnt he know that's our thing?
Did we really think that we could impose sanctions, confiscate money and assets, without any repercussion?
I hate that he invaded Ukraine and I regret our own hypocrisy is also shining through. This has happened before and will happen again because we cant get our collective heads from our collective asses.
Were you stamping your feet on the ground while writing this tantrum? Or did you wait until you were finished?
Ah yes, slinging insults is a very effective communication tool. You convinced me by showing me why and where I was wrong and for that I will be eternally grateful!
I don’t think so. Sanctions on Russian billionaires won’t necessarily made them hate Putin. Yes their money were seized because they are Russian, but they also know they got those money because they are Russian. Clever people never speak loud, but Ukraine is sacrificed.
How does Pooty the Killer think this is going to work out, long-term?
If they fly these planes to ANY Western country, they'll be impounded immediately. If they keep them domestically (which is a longshot), most will rot from lack of use. Also, the global supply chain for both Airbus and Boeing planes has been shut off for Russia. Where's he gonna get spare parts? It'll be the Ayatollah's Iran all over again.
No, BRAVE people speak out. Russian apologists, and the useful idiot boot-lickers working for Putin say just keep quiet and count your winnings.
It's good versus evil, pick a side. We all can see which side you're on, Ivan, fascist scum.
Ukraine is keeping careful track of the value of things Russia has destroyed. They're expecting to rebuild using all that Russian money, and I say bravo. Ukraine should take it all, they're going to need it.
Russia will be the poorest country in the world after this plays out. Any Russian citizen with half a brain is heading for the exits, if they have not already left yet. Living in Russia is going to be just like living in North Korea.
It was the U.S. and Europe that did that by introducing illegal sanctions. The U.S. and Europe have seized assets of both the Russian government and of private citizens who are not part of the Russian government. I don’t blame Russia for doing the same thing by seizing these planes to pay for the harm done by the sanctions. Ukraine is controlled by a globalist comedian who is a puppet for western globalists. Speech is a crime in Europe. Bakers are bankrupted for not baking a cake in the U.S. The Canadian PM assumed dictatorial powers and seized bank accounts of people who donated $25 to those protesting government tyranny. Russia might not be the good guy but the U.S. and European governments are the bad guys.
Imagine defending someone who bombs hospitals and has people poisoned with whataboutism.
Imagine if the orange traitor Trump had been in power. Putin would have invaded the whole Europe, with impunity. He withdraw troops from Germany and undermined the NATO. He was doing Putin's bidding the whole time, and Putin thought that the NATO was weak, and he invaded. Now the orange traitor is plotting to turn the US into a totalitarianism.
$650 billion is just a down payment on what it will cost to rebuild Ukraine after he destroys it. The world owes Putin nothing.
It'll make Putin 'feel' good for a while. But short/medium/long term this is a bad tactic for Russia. The leasing companies take a hit, but Russia loses all global commercial credibility (well except with those economic powerhouses Eritrea, Belarus and Syria). What sane publicly-listed company would risk exposure to such a volatile client state? Even China would blanch at such a move unless under the most extreme pressure (i.e. if it was militarily or economically attacked first). Investors hate risk. Russia is extremely high risk now. You draw your own conclusions.
@Minos
The World (with the exception of about five or so dodgy countries with even more dodgier governments) did not 'steal' 650B from Russia. It was an 'economic special operation'. Oh, and the amount is not 650B. It was 'only' about half that...the balance was in Russia. I hope Ukraine gets most of it.
Came here for some level headed discussion and sane comments!
Wasn’t disappointed in the least.
…….NOT!
@no trump traitors
Actually the world would be at peace instead of on the verge of WW3 if President Trump was still around. Zalinskyy is only 44 yrs old. When he visited the White House 3 years ago President Trump told him that he and President Putin should try and talk to each other and work things out. Cry baby zalinskyy with his hands out like a puppy dog with the pipe dream of ever joining the EU . Why would they ever take on the burden of a poor country ? Well he didn’t listen. What really scares me is that Kamala Harris is one breath away from being the President.
Trump made peace deals left and right in the Middle East and even pacified the Korean Peninsula.
NATO has been useless since WW2 and still useless. Those random Central European nations all owe the US money . President Trump had every right to try and end NATO.
I’m buying Chinese stocks . Do the opposite of what everyone else is doing. Besides it’s all risk capital. Let’s reshuffle the cards 15-20 yrs from now and see where the world economy is at.
D3kingg, This is Russian Bot. He is parroting Kremlin's Nazi talking points. Go work for Putin you traitor.
@D3kingg, Go back to your Russian basement or whatever is left of it, and hide. Your economy is ruined, and Trump will never be back to bail out your criminal regime.
Lol I am no Trump fan but y'all Trump haters are more crazy than the Trump lovers. It's been 2 years since the election. Move on.
Yeah and I am sure if given the choice, you would choose to live in Russia and not the US or Canada.
You mean when Wernher von Braun was granted US citizenship?
Or when he took us to the moon? (and all the ICBM nukes as by products)
Or when his 'POW labors' built V2 rockets (allegedly kill more labor than targets)?
LOL, so what about war criminals?
After carefully reading, I can't see how this law is stealing?
If you mean operating a leased aircraft without consent, then regardless of registration or not, it already was stolen.
Just having a new registration on an already stolen plane doesn't make this new policy about stealing planes.
This law doesn't mean anything unless I'm missing some ICAO rule that Russia is trying to be compliant.
"After careful reading...."
When you start a sentence like that, I knew you were about to tell a really, really, really big whopper!
And you haven't been paying attention to the intricacies of the war either, have you? Give it a rest, Eskimoo. Give it a rest.
If Russia (and you) aren’t into globalization, there’s always the option to go back to the isolated fully authoritarian times. Have at it! Actually, it seems that’s what’s happening already.
Not sure the carriers, reading the tea leaves, will actually listen and register the planes in RU knowing they can never leave the country again.
They may not return the planes or pay leases but nationalizing them is a line once crossed, makes Russian carriers pariahs forever, end of their airline industry.
Bad for the lessors, but Russian airlines likely faces bans everywhere, and even if things were to settle down, it will take a long time before these planes will be cleared to land at most airports outside of Russia as their airworthiness, certifications, etc...and likely revoked, invalid, or out of date, making them now a hazard.
@ RetiredATLATC -- Seems that for the first comment you weren't logged in with your username? Still working on resolving the issue re: you showing as a "New Member," hope to have it resolved soon. Sorry about that...
Sanctions are temporary freeze on assets, nationalization is forced change of ownership. So it is not tit for tat. Tit for tat would be if be if the West nationalize the currently sanctioned 650B from Russia in response to nationalization of foreign aircrafts, and foreign businesses in Russia. This is would so bad for Russia since no business would go back or invest for decades to come. Plus, in a tit for tat, the west could use the sanctioned Russian assets to refund losses for businesses that has their assets nationalized in Russia.
This is a joke, right? I mean, I can understand the "sins" of the west. But parroting Putin propaganda?
This is a lesson to be learned for aircraft leasing companies. From now on they should consider installing a device or software program in every leased aircraft that can be used to remotely lock a key operating feature of an aircraft, that makes it unusable.
Even the Ayatollah opposes him, must be tough for little Pooty to look in the mirror when even anti-US religious zealots won't get in your corner.
After carefully reading, I can't see what Burger King's signature sandwich have to do with Putin.
I appreciate that you being my loyal fan, but please don't forget to give credits to the blog owners too.
And if you don't mind, could you please explain the intricacies of the war that you are referring to and what does that have to do with a really really big burger?
Biden's weakness has made the world a dangerous place. For the first time Ill be voting Republican.
Sure they are. All they have to do is mail in a ballot. Many states won't even check the return address, let alone require an ID. Or just give to friends (Russian mobsters operating in the US?) and they can drop them in unattended ballot boxes.
Well lesson learned, the question is what will Russia do in 5-6 years when they need to replace aircraft. Good luck
Not to mention violating the Chiago Convention of 1944 rules about registration and ignori g the Capetown treaty. Leasing companies will be very hesitantto place assets with Russian carriers for many many years!
Sort of no different than US Corporations filing bankruptcy here, reneging on leases and debt to reorganize and “steal” from investors and creditors. No?
A legal form of theft allowing others to reorganize instead of liquidating and sticking it to creditors pennies on the dollar.
What is also of concern is how the leasing companies are going to survive not to mention the loss of jobs/redundancies in those companies. Putins actions are grand theft on a huge scale
Also, quite watching Fox and OAN.
It’s bad for your brain. Makes you even stupider.
Looks like “no trumptrads traitors “ and other libs simply can’t get over the fact that Trump WAS the president and Biden is NOW the president. You can deflect blame all u want but we all know who is the White House. I certainly do and am reminded about it every time I pay $5.00 gallon for gas, read about another illegal who just arrived and who has already committed a crime, shop at the grocery store where half of the shelves are bare and …… so on.
Specifically isn’t it funny that Putin waited until Trump was out of office to invade. That in itself speaks volumes. Open your eyes and look around. Unfortunately Your 1 term POTUS has two more years left. God help us all.
A fox reporter was killed today in Kyiv. Where does CNN cover the war ? Rockefeller center ?
Trump should have pressured Putin to negotiate with Ukraine not the other way around. It was within his power.
Also , what about the retired old Jewish couple who worked in factories their entire lives and live in middle of nowhere Siberia? Their savings should only be worth half now and they should starve to death ? They have nothing to do with Putin.
Don’t worry we are only weeks into a war that will escalate and last for years. Zero chance US does not get pulled into the war.
My heart agrees with you.
My head remembers the result of the Treaty of Versailles inflicting heavy punitive damages.
Well once the wars over, keep the ban in place unless they pay 3-5 times what's owed on each and every aircraft they got, do not sell them parts , let them rot, the insurance companies will be going nuts but hey ho thats what insurance is for.
Im surprise of the hate and anti-Russian sentiment in this post.
I cannot believe this is the same people that travel business and first class and lack the proper language and educated manners.
We need more diplomacy and understand the position of each part.
Most of the leasing contracts are with AerCap from Dublin with 152 aircraft close to $2.4 billion. We must remember that its the lessors who are terminating the contract before its due, not the Russian airlines, so this can be a very long legal battle and usually under normal conditions.
The russian airlines can continue pay in rubles even if its far from ideal, but its money at the end of the day, the complication here are the sanctions and the frozen of close to $300 billion of Russian assets and foreign reserves by US, Germany & UK.
So this action prevents the affected parts involved to solve the problem.
Conclusion: Make a negotiation for the sake of your business.
Im pretty sure that the leasing contracts with the UAE will be pay and will be honor.
Remember, Sanctions have no basis in international law, they are disruptive and they undermine international rules and harm all nations and people.
I am sure Putin was inspired by Biden’s theft of $7 billion from the Afghan government. “Rules-based order” indeed!
Must be nice being so incredibly ignorant of how things actually work. Typical MAGA mouth breather.
Hey remember when Trump downplayed NATO? And withheld Ukraine defense funding as a quid pro quo? Yeah actions have consequences.
@Andrew, hey Russian bot Andrew! Go back to Putin and polish his boots, because that is all he will have left. Tell Putin that his minion is not there, and real Americans are willing to pay whatever for their gas because they love their country and democracy, and the Traitor Trump is gone! And the Russian economy is finished.
SO good to see here that Russian Bots and TRUMP TRAITOR supporters are quickly pounced on. TRAITOR TRUMP SUPPORTERS, your time is finished! YOU BETRAYED YOUR country by supporting a traitor who betrayed our country and bowing to PUTIN like a dog. Never forget what he did in Helsinki.
Abstaining from any comment after reading responses - The posts have alarmed me
Remember whose beloved son worked as a high-rank executive in Unkrain energy corp?
I am puzzled by your statement that sanctions are disruptive when I compare it to the 'disruption' the country in question has committed in an independent nation. Are you suggesting I should be sympathetic to the 'plight' of these airlines?
There are many airlines and distributors from friendly jurisdictions that will sell, in many cases they can do that from a third party, and in many cases they dont even know that it will be ship to Russia, Oman, Turkey, UAE, etc.
In other cases Russian airlines can use domestic and Chinese aircraft to replace in the future the existing fleet and they can also buy second hand Airbus and Boeing.
Reimburse the leasing companies by seizing Russian money in Western banks. If Putin wants to take the planes let him pay for them.
Of course he waited until Trump was out of office, he didn't want to make his puppet look bad. He waited until he no longer had a puppet in the White House.
When I first saw the headline I busted out laughing. Putin has become a caricature of everything evil and wrong in this world. He can do whatever he wants until some Russian whacks him and takes over. That's the only way this ends well.
So these aircraft owners should file suit against Russian federation as this is tantamount to conversion or civil theft! Obtain a judgement and move to collect judgement tapping into their frozen assets.