Russia looks at purchasing spare parts for aircraft from Asia By Reuters

© . FILE PHOTO: Airbus A350-900 plane of Russian flagship airline Aeroflot takes off during a media presentation at Sheremetyevo International Airport outside Moscow, Russia March 4, 2020. REUTERS/Maxim Shemetov () -Russia is working to procure spare parts for aircraft from China and other Asian countries, the transport ministry said Friday, and has not yet decided whether it will buy foreign aircraft leased by Russian airlines. Sanctions have already halted deliveries of most planes and parts to Russia and airlines have been forced to cancel many international flights for fear that their planes will be seized by foreign lessors or banks. An official with the Russian aviation authority said on Thursday that China had refused to supply Russian airlines with aircraft parts after Boeing (NYSE:) and Airbus stopped supplying parts. “Questions about the supply of spare parts from China and other Asian countries are being worked out,” Alina Malysheva, director of the legal department of the Ministry of Transport, said in a meeting with lawmakers from the Federation Council, the upper house of the Russian parliament. She said 739 of the 1,367 Russian aircraft are currently registered abroad and Russian aircraft may be able to be registered in Russia without being taken off foreign registers. “No decision has yet been made on buying (aircraft),” Malysheva said. Russia on Thursday released a bill that could prevent its airlines from returning leased planes, raising the stakes worth more than $10 billion worth of jets in a confrontation with Western finances. The House of Representatives, the Duma, approved the legislation in its first reading on Friday, which would offer the transport sector relief from sanctions. The law aims to maintain the fleet of foreign aircraft with Russian operators and allows changes to the way airworthiness certificates can be issued. Disclaimer: Fusion Media would like to remind you that the data on this website is not necessarily real-time or accurate. All CFDs (Stocks, Indices, Futures) and Forex prices are not provided by exchanges but rather by market makers, and therefore prices may not be accurate and may differ from the actual market price meaning prices are indicative and not suitable for trading purposes . Therefore, Fusion Media does not bear any responsibility for any trading losses that you may incur as a result of using this data. Fusion Media or anyone associated with Fusion Media accepts no liability for any loss or damage resulting from reliance on any information, including data, quotes, charts and buy/sell signals on this website. Be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest forms of investment possible.

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