- Russian President Vladimir Putin has signed a law authorizing the seizure of hundreds of Western-built aircraft operated by Russian
airlines . - The planes are owned by aircraft lessors, which have canceled contracts following
sanctions againstRussia .
On Monday, Russian President Vladimir Putin signed a law that will allow Russian airlines to take control of hundreds of the Western-built planes leased from international firms, Russian
The jets will be added to the country's aircraft register and be deployed on domestic routes, according to Reuters. The news comes on the heels of the island of Bermuda revoking the airworthiness certificates for over 700 leased aircraft in Russia, which went into effect Saturday night.
The battle between Russia and lessors has been ongoing since the invasion of
However, Russian authorities and airlines have made the task difficult, including airspace closures and a ban on most international flights.
Meanwhile, European and US sanctions have cut Russian airlines off from planemakers Airbus and Boeing, which produced the bulk of the leased aircraft. That means the two Western companies cannot provide support in the form of maintenance, spare parts, or updates for the complex machines, which could pose a risk for
As Boeing and Airbus are banned from shipping spare parts to Russia, this could force airlines to turn to risky alternatives, like buying uncertified supplies from China or "cannibalizing" parts from planes on the ground, including lessor jets.
According to
"The lessors may end up having to take a writeoff," Nick Cunningham, an analyst with Agency Partners, told Bloomberg.