Shortage of planes in Russia due to wartime demand hinders air travel growth

From Investing.com: 2024-11-28 00:06:03

Russia’s economy and wages are rising due to the war effort, leading to increased air travel. However, a shortage of planes hinders the civil aviation sector’s ability to meet demand. Most European airspace is closed to Russian carriers, shifting traffic to domestic routes and friendly countries like Turkey and the UAE.

The retail sales growth in Russia drives demand for air travel and consumer goods, but the production delays and lack of domestic planes pose a challenge. Airbus and Boeing planes make up two-thirds of Russia’s fleet, and the delay in production of the new MS-21 airliner pushes back fleet expansion.

Russia has spent billions in subsidies and loans to bolster the aviation sector post-invasion, aiming to produce over 1,000 aircraft by 2030. Facing a shortage of planes, Russia has sought help from Central Asian countries, India, and China to run domestic routes, highlighting growing ties between Moscow and Beijing.



Read more at Investing.com: Russia’s plane shortage holds air travel back as wartime wages drive demand By Reuters