Demand Grows for Bizjets in Russia, Say Analysts

 - October 20, 2020, 11:49 AM

Business jet demand among Russians is steadily recovering post-Covid, according to in-country industry analysts. In fact, they said sales of business jets in Russia are rising—even for large-cabin models that have taken the back seat to smaller jets in other regions during the pandemic.

Business aviation industry watcher Dmitry Petrochenko noted that the Russian business aircraft market—where the biggest local demand is traditionally for large business jets—continues to be very “specific.” And, he added, the new ultra-long-range flagship jets from Gulfstream and Bombardier—the G700 and Global 7500, respectively—could further accelerate demand in Russia as these models become more widely available.

Meanwhile, many Russian aircraft owners have registered their business jets within the domestic jurisdiction this year after VAT was lifted for imported aircraft on January 1. This tax break is also helping to repatriate capital and assets of Russian business from abroad, potentially increasing the business aircraft customer base within the country.