Aircraft lessors set for insurance cost shock after Russian sanctions
The head of lessor BOC Aviation warned hefty insurance price rises are coming for lessors after Russia’s invasion…
Russia, encompassing a significant portion of both Europe and Asia, maintains a substantial presence in the aviation industry. It boasts a large domestic market and a history of aircraft manufacturing, exemplified by companies like Tupolev, Ilyushin, and Sukhoi. The nation plays a crucial role in global aerospace manufacturing, particularly in the realm of military aircraft and helicopters. Russia used to serve as a vital link between Europe and Asia, accommodating numerous international air routes. Aviation industry heavily affected after war in Ukraine.