Russia will allocate 770 billion rubles (US$14.5 billion) to develop the country’s air transport industry by the end of 2030 in order to boost home-grown aircraft production, Russian state news agency TASS reported on June 27, 2022.
Of 770 billion rubles, 150 billion (US$2.8 billion) will be allocated to the country’s air transport sector by the end of 2022, Russia’s Prime Minister Mikhail Mishustin said during a meeting with his deputies.
“There is a lot of work to be done to create the necessary efficient infrastructure in the industry,” Mishustin said. “The share of domestically produced aircraft in the fleet of Russian airlines should grow to 81% by 2030.”
The news comes just one week after Russian Minister of Trade and Industry Denis Manturov announced that Russia will produce more than 1000 local airliners by 2030.
“The companies of aviation industry proved the possibility to deliver over a thousand airplanes by 2030 to fulfill the needs of civil aviation while replacing the foreign-made components by Russian-made ones and modernizing the manufacturing where necessary,” Manturov said.
The Russian aviation industry has faced setbacks amid sanctions imposed by the West following the country’s full-scale invasion of Ukraine, with Russian aircraft banned from flying to destinations in Europe, the United States, Canada and more.
Boeing, Airbus, Embraer, and Bombardier have also halted cooperation with Russian airlines following its invasion of Ukraine.