Robert Besser
02 Oct 2022, 15:56 GMT+10
MOSCOW, Russia: Russia's state-owned engineering firm Rostec has said that the country's aviation industry will continue operating without the West, by ending its reliance on Boeing and Airbus and using locally manufactured parts to assemble 1,000 airliners by 2030.
The statement by Rostec, a large corporation that includes Russia's only manufacturer of civil aircraft, is the sign of a potentially permanent break by the country's aviation sector from the West.
In response to Moscow's invasion of Ukraine, western sanctions, the most severe in modern history, have forced the largest change on Russia's economy since the end of the Soviet Union from 1989 to 1991.
As foreign aircraft, mainly from Boeing and Airbus, account for 95 percent of flights by Russian airlines, the sanctions have led to a lack of spare parts.
In August, Reuters reported that Russian airlines, including state carrier Aeroflot, were stripping jetliners to secure spare parts.
Rostec, headed by Sergei Chemezov, a close ally of President Valdimir Putin, considers the situation to be an opportunity to create a self-reliant local aviation industry.
In a statement to Reuters, Rostec said, "Foreign aircraft will drop out of the fleet. We believe that this process is irreversible and Boeing and Airbus planes will never be delivered to Russia."
However, aerospace analyst Richard Aboulafia, managing director of U.S.-based AeroDynamic Advisory, said the target of building 1,000 airliners by 2030 is "basically impossible," as quoted by Reuters.
"Even when they could get semiconductors and other vital components from the West, they were having a very hard time producing more than a handful of jets," he added.
According to the Russian government's aviation industry's development plan to 2030, published in June, Russia plans to produce 20 fully import-substituted regional jets, known as "Superjet-New," per year from 2024, as well as 72 new medium-haul MS-21 from 2029.
"We do not expect sanctions to be eased and we are building our plans based on the existing tough scenario," Rostec said.
Get a daily dose of Dallas Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Dallas Sun.
More InformationNAYPYIDAW, Myanmar: Kyar Win, spokesperson for the Myanmar National Democratic Alliance Army, which launched a surprise offensive last month against ...
While Secretary of State Anthony Blinken has been frantically shuttling around the Middle East trying to stop the Israeli coflict ...
LESBOS, Greece: Greek authorities said a cargo ship sank off the island of Lesbos over the weekend during a storm, ...
COLUMBUS, Ohio: To stop the spread of bird flu, more than 1.3 million chickens will be killed on Ohio's Union ...
In a devastating turn of events, Israel's war on Gaza, sparked by Hamas's unprecedented attacks on October 7, has resulted ...
BATON ROUGE, Louisiana: In a Louisiana election where more than 43,000 people cast their ballots, a candidate for parish sheriff ...
NEW YORK, New York - The Dow Jones index was the standout on U.S. financial markets on Thursday with a ...
WASHINGTON D.C.: Despite the ongoing economic uncertainty, major discounts during the Thanksgiving weekend enticed U.S. shoppers, who spent some US$38 ...
BANGKOK, Thailand: This week, Thailand's Deputy Finance Minister Krisada Chinavicharana said after a weaker-than-expected third quarter, the country will downgrade ...
BEIJING, China: The country's commerce ministry said that during a meeting with Vietnamese Prime Minister Pham Minh Chinh in Ho ...
NEW YORK, New York - Retreating bond yields and a higher-then-expected GDP reading for the third quarter boosted U.S. stocks ...
WASHINGTON D.C.: President Joe Biden invoked a Cold War-era act this week to boost investment in U.S. manufacturing of medicines ...