Russia's biggest cargo airline to suspend all Boeing flights
Reuters
Published Mar 18, 2022 01:02PM ET
Updated Mar 18, 2022 01:17PM ET
(Reuters) - Russia's biggest cargo airline Volga-Dnepr Group has suspended all flights using Boeing (NYSE:BA) aircraft due to Western sanctions, it said on Friday.
Sanctions have cut off the supply of most aircraft and parts to Russia. The United States and Europe have closed their airspace to Russian airlines, and Moscow has responded by imposing the same measure on them.
Volga-Dnepr said in a statement it had stopped operations of two of its subsidaries - AirBridgeCargo and Atran - that use 18 Boeing 747 and 6 Boeing 737 airplanes due to sanctions and a decision by Bermuda's Civil Aviation Authority (BCAA) to terminate their safety certificates.
"The management of Volga Dnepr has made a conscious decision to find a possible solution together with partners and state regulators," it said.
Volga-Dnepr, which describes itself as the world leader in the oversize and heavy cargo market, continues to fly Russian-made aircraft including An-124 and Il-76 cargo jets.
Russia has passed a law allowing the country's airlines to place aircraft leased from foreign companies on Russia's aircraft register - a manoeuvre likely to stoke Western fears of a mass default involving hundreds of jetliners.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.