The Russian Government has set aside about $3.918 bn for purchasing foreign aircraft leased by Russian airlines, reports TASS. In a meeting of the Committee on Transport and the Development of Transport Infrastructure, the Minister of Transport of the Russian Federation, Vitaly Savelyev said: “We are trying to buy planes from foreign lessors; this is an issue that we have looked at extensively. And the government has already allocated about 300 billion rubles. Aeroflot has already used the funds to buy 10 long-haul aircraft."
The Russian government has also allocated $3.08 bn for Russian carriers to take delivery of new domestically produced aircraft. The funds will come from National Wealth Fund and will be infused in two government-owned leasing companies—GTLK and Avia Capital Services.
The insurers are facing trial in High Court of London next year having refused to pay billions of dollars in claims from aircraft lessors.