Why do Russian airlines rely on airplanes registered in Bermuda or Ireland? [closed]

The Politicus
Mar 15, 2022 01:35 PM 0 Answers
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This article states that Putin signed a new law to prevent foreign owners of leased jet planes to repossess their air crafts as ordered by Western government as part of the sanctions issued for the invasion of Ukraine. What I found curious is that the article stated that Russian airlines have:

515 jets leased from abroad worth about $10bn

Bermuda and Ireland, where nearly all foreign-leased planes operating in Russia are registered

I assume this is legal under Russian law, because the president of the Russian federation just signed a law to protect the Russian airlines from side effects. But why the airlines relied on this scheme in the first place? Why did the Russian government not care when it happened and beyond dodging the sanctions does not seem very concerned with it? There might be some fiscal advantage, but the current development shows that there is also a risk is such practice and having so many aircraft under this scheme seems a big risk.

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