Stock Groups

Russia’s biggest cargo airline to suspend all Boeing flights -Breaking

[ad_1]

2/2
© Reuters. FILEPHOTO: A Boeing 7477-87U of AirBridgeCargo Airlines arrives at Paris Charles de Gaulle Airport in Roissy, France carrying 21-million masks in the event that the coronavirus (COVID-19), exploded in France on May 25, 2020. REUTERS/Charles Platiau

2/2

(Reuters) – Russia’s largest cargo airline Volga Dnepr Group suspended flights on Boeing (NYSE) aircrafts due to Western sanctions. It announced Friday.

Russia has been deprived of the majority of its aircraft parts and planes due to sanctions. Moscow has reacted to European and American restrictions on Russian airline airspace.

Volga-Dnepr stated in a statement that it has stopped operation of AirBridgeCargo (and Atran) two of its sub-subsidiaries. These subsidaries use 6 Boeing 737 planes and 18 Boeing 747 airplanes. This was due to safety certificate terminations by Bermuda’s Civil Aviation Authority.

Volga Dnepr management made a conscious choice to seek a solution with partners and regulators of the state,” they said.

Volga-Dnepr continues to fly Russian-made planes, such as Il-76 cargo jets and An-124 aircraft.

Russia approved a law that allowed its national airlines to list aircraft leased to them from foreign corporations on Russia’s aviation register. It is a move likely to increase Western fear of an aircraft default, which could lead to hundreds of planes being grounded.

Disclaimer: Fusion MediaWe remind you that this site does not contain accurate or real-time data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. 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. Trading the financial markets is among the most risky investment options. Please make sure you are fully aware of all the costs and risks involved.

[ad_2]