The gleaming, late-model European jet for sale was a rarity in the hot market for second-hand corporate aircraft. READ:
It was only after aviation lawyer Amanda Applegate’s client did some additional digging that they discovered the aircraft, while not registered in Russia, was in fact Russian-owned.
According to European data research and consulting company WINGX, there are only about 100 business jets on the Russia Register. Yet about 400 corporate aircraft flew frequently from the country last year, raising questions over the true extent of Russian control of the fleet. Some 5% of European business jets are registered in Russia, according to Jefferies analysts. But those actually owned by Russians could be up to triple that amount, analysts say.One of the world’s largest maintenance firms, Germany’s Lufthansa Technik, has set up a task force and created an export approval process to avoid violating sanctions that ban technical support as well as shipments of parts to Russia.
Canada’s Bombardier and General Dynamics Corp’s Gulfstream are among the biggest suppliers of jets with Russian owners, according to analysts and brokers.It has suspended the accounts of some customers even though they are not directly covered by sanctions, and won’t provide parts or technical support to anyone located anywhere if they use the aircraft in Russia, the Canadian planemaker said in a customer bulletin seen by Reuters.It is equally a headache for buyers. Like Ms.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SB Finance launches loan mobile app - BusinessWorld OnlineSB FINANCE Co., Inc., the joint venture consumer lending firm of Security Bank Corp. and Thailand’s Bank of Ayudhya (Krungsri), launched a new loan app on Tuesday. READ:
Read more »
Ukraine invasion splits Orthodox Church, isolates Russian patriarch - BusinessWorld OnlineVATICAN CITY — Russian Patriarch Kirill’s full-throated blessing for Moscow’s invasion of Ukraine has splintered the worldwide Orthodox Church and unleashed an internal rebellion that experts say is unprecedented. Kirill, 75, a close ally of Russian President Vladimir Putin, sees the war as a bulwark against a West he considers decadent, particularly over the acceptance […]
Read more »
Digital interventions vs climate change - BusinessWorld OnlineIt’s summer. Temperatures are rising, and now that most mobility restrictions have been lifted, many children can be seen playing outdoors. One sunny, sweltering afternoon, however, the sky turned gray, and a downpour ensued.
Read more »
A board seat has no gender - BusinessWorld OnlineAmong the many ways to push for gender equality in the Philippines is to promote the inclusion of female board members in companies. Aside from benefiting one’s own career as a woman, this can also strengthen a company’s decision-making moving forward, according to various female board members from around the world.
Read more »
PHL workers need more training, safety nets after pandemic ‘scarring’ - BusinessWorld OnlineLABOR MARKET scarring due to the pandemic will require the Philippines to roll out training programs and improve social protections in order not to worsen the gap between employee skills and workplace expectations, the Asian Development Bank (ADB) said in a report.
Read more »
PAL eyeing to offer last-mile cargo deliveries directly to homes, offices - BusinessWorld OnlinePHILIPPINE Airlines, Inc., which celebrated its 81st anniversary on Tuesday, is working to strengthen its cargo business to take advantage of the e-commerce boom. READ:
Read more »