Russia allocates another $1.23b to company buying planes from Western lessors
Russia has allocated an additional 107.7b roubles ($1.23b) from its rainy day fund to a state company that has been purchasing aircraft from foreign lessors, the finance ministry said on Wednesday.<br/>The ministry said it had purchased bonds of NLK-Finance, a subsidiary of state-owned insurance company NSK, bringing the total amount spent on NLK-Finance bonds to 296.8b roubles ($3.38b). After the West imposed sanctions on Russia over its invasion of Ukraine in February 2022, Moscow re-registered aircraft leased from Western companies and then started negotiations to buy them out. Most of the planes were manufactured by Boeing and Airbus. Russia has already settled insurance claims with Western lessors including AerCap for over 100 planes, using money from the rainy day fund and transferring ownership of the planes to NSK.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2024-01-18/general/russia-allocates-another-1-23b-to-company-buying-planes-from-western-lessors
https://portal.staralliance.com/cms/logo.png
Russia allocates another $1.23b to company buying planes from Western lessors
Russia has allocated an additional 107.7b roubles ($1.23b) from its rainy day fund to a state company that has been purchasing aircraft from foreign lessors, the finance ministry said on Wednesday.<br/>The ministry said it had purchased bonds of NLK-Finance, a subsidiary of state-owned insurance company NSK, bringing the total amount spent on NLK-Finance bonds to 296.8b roubles ($3.38b). After the West imposed sanctions on Russia over its invasion of Ukraine in February 2022, Moscow re-registered aircraft leased from Western companies and then started negotiations to buy them out. Most of the planes were manufactured by Boeing and Airbus. Russia has already settled insurance claims with Western lessors including AerCap for over 100 planes, using money from the rainy day fund and transferring ownership of the planes to NSK.<br/>
