Stock Groups

Belarus state airline cuts fleet by nearly half due to sanctions -Breaking

[ad_1]

© Reuters. FILE PHOTO A Boeing 737-880 plane belonging to Belarusian state carrier Belavia is seen taking off from the Domodedovo Airport, Moscow, Russia on May 28, 2021. REUTERS/Maxim Shemetov/File Photo

MOSCOW, (Reuters) – The Belarusian state-owned airline Belavia claimed on Friday that its aircraft fleet was reduced by half because the European Union had placed sanctions against it.

On Thursday, the EU sanctioned Belavia, accusing it that it flew in migrants to try and destabilise European countries. Washington coordinated punitive actions.

Officials from the EU have stated that EU companies cannot lease aircraft to this airline because of sanctions.

Belavia released a statement saying that “Due to restrictions”, the airline was forced to lower its fleet. The company currently has 15 aircraft.

The company did not say which 14 Boeing (NYSE 🙂 or 15 Embraer aircraft it had previously removed from the fleet.

At the close of last year, 15 airplanes were owned by the airline, 5 Embraer aircraft and 8 Boeing planes. The same number was on lease. Air Lease Corporation (NYSE:) Corporation is one of Belavia’s largest suppliers of leased aircraft.

Belavia is the ex-Soviet’s only air carrier, employing 9.5m people. It stated that it would rebuild its fleet through both purchasing and leasing planes from companies outside the EU.

After an international uproar over the downing of Ryanair in Belarus and subsequent arrests of dissidents, many European airspaces have been closed to them.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs are stocks, indexes or futures. The prices of Forex and CFDs are not supplied by exchanges. They are instead provided by market makers. As such, the prices might not reflect market values and could be incorrect. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media or any other person involved in the website will not be held responsible for any loss or damage resulting from reliance on this information, including charts, buy/sell signals, and data. You should be aware of all the potential risks and expenses associated with trading in the financial market. It is among the most dangerous investment types.

[ad_2]