A partial flotation of state-owned Russian Helicopters on the London and Moscow stock markets was postponed last week after potential investors failed to subscribe. The joint stock company’s major shareholder, Oboronprom, was offering new and existing shares exceeding $500 million, implying a total value for the company of between $1.8 billion and $2.4 billion. This was the first such offer of a company in Russia’s defense industry.
The Russian government intends to combine Sheremetyevo and Vnukovo airports into a single state-owned entity to renovate them and eventually sell them to private operators, according to plans laid out by Prime Minister Vladimir Putin. The Russian government owns 100 percent of Sheremetyevo and 75 percent of Vnukovo, with the remaining quarter (worth approximately $1.5 billion, according to reports) owned by the city of Moscow.
Russia represents a fast-growing region and increasingly popular destination for business aviation, with a significant rise in traffic between Moscow and the Middle East, in particular. VIPport (Stand E315) offers business and VIP travelers a world-class gateway to the Russian capital at the Vnukovo-3 airport, where a comprehensive support center for business aviation has been established.
Jet Aviation Moscow Vnukovo recently announced that it has expanded its base and line service maintenance coverage to include Bombardier Challenger 300s and Gulfstream G200s under its EASA 145 maintenance approval. The operation has continuously expanded its service capabilities since it became a legal Russian entity in May.
A new market forecast by the Moscow-based Central AeroHydroDynamics Institute predicts that the number of Russian-registered business aircraft could exceed 600 by around 2023 to 2025. Today, many aircraft owned by Russian individuals and companies are registered offshore to avoid the bureaucratic and tax restrictions that would be imposed if they were registered in Russia.
Over the 12 months since EBACE 2009 there has been a major improvement–you might almost say a revolution–in prospects for Russian business aviation. “Last year marked a turning point in the attitude of the Russian government and aviation authorities to our needs,” said Leonid Koshelev, chairman of the new Russian United Business Aviation Association (RUBAA).
The new Russian Business Aviation Association (RusBAA) has confirmed that the exceptional growth the country’s emerging business aircraft sector achieved in the past few years has been quickly rolled back to 2006 traffic levels as the global downturn has gripped the Russian economy.
Superjet International–the marketing, customization and customer support arm for the Sukhoi Superjet 100–announced the opening last month of its Russian branch in Moscow.
Despite a challenging economic climate, business aviation is finding its footing in Russia, as some 8,000 visitors attended JetExpo at Moscow’s Vnukovo-3 last month. This year’s event attracted 100 exhibitors, with 25 airplanes and seven helicopters on the static display.
Because there are few business jets registered in Russia, almost all business jets flying into the nation are foreign-registered and therefore subject to the rules governing foreign aircraft.