Category: sanctions

Lessors Reach Settlement With Russia’s Aeroflot Over Stuck Aircraft

In 2022, Russia withheld hundreds of foreign-owned (but Russian-operated) aircraft.Reuters has since reported that aircraft leasing firms have struck settlements for over a quarter of the total number. With the aircraft seemingly unrecoverable at this point, settlements that include compensation seem to be the best-case scenario for these leasing firmsArticle: https://simpleflying.com/lessors-reach-settlement-with-aeroflot-over-stuck-aircraft/

LTG Cargo deals with a rising number of attempts to evade sanctions

Attempts to circumvent Western sanctions on Russia and Belarus via rail through Lithuania grew exponentially between March and May. The Lithuanian national rail freight operator LTG Cargo said that four wagons were blocked and sent back at the Lithuanian border in March, while in May this number increased to 62. The company did not provide…

Estonian Operail to be auctioned off and privatised

Operail, the Estonian state-owned rail freight operator, is for sale. On 6 June, the government approved the imminent privatisation of the company. It has struggled to maintain profitability following sanctions against Russia and Belarus. Operail is now being auctioned off completely. The Estonian climate ministry had made a proposal to that end, which the government…

Low freight volumes: Russian Railways loses up to 50 billion rubles

Freight volumes on the Russian rail network keep falling. Russian Railways (RZD) likely incurred a 50 billion ruble loss due to the decline over the first months of 2024. The trend is unlikely to reverse soon. For the past seven months, freight volumes on the Russian rail network have been in decline. According to Forbes.ru,…