Russian aviation is at risk of being left without new airplanes, the budget of the Federal National Security Fund for the buyout of aircraft is running out.
The National Welfare Fund (NWF) has 3.5 billion rubles left in its budget out of the 300 billion rubles allocated for the purchase of airplanes from foreign owners, Kommersant reports.
The publication notes that the last money was spent on the settlement of 28 airplanes of Aeroflot, as well as 45 aircrafts of S7 and 19 aircrafts of Ural Airlines.
Fyodor Borisov, an expert at the Institute of Transport Economics and Transport Policy of the National Research University Higher School of Economics, believes that at the moment it is necessary to consider the possibility of preferential lending with interest rate compensation. Leaving air carriers without state support will shift the costs to passengers, he added.
Aeroflot Group has agreed with lessors to terminate claims on 28 Russian airplanes. The issue has been resolved on insurance policies that were issued in the Russian Federation under contracts with Aeroflot, Pobeda and Rossiya. The ownership of the airplanes is now held by the insurance company NSC, which has reimbursed the amounts to settle the process.