Canadian aviation company caught in Russia’s confiscation of hundreds of foreign-owned jets

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Observers say confiscation of hundreds of foreign-owned jets is a move by Russian President Vladimir Putin to seize billions of dollars in aircraft

Dash 8 Number 443 rolled out of the hangar at Bombardier Aerospace’s plant in Toronto and took its maiden flight from the Downsview Airport in the spring of 1997.

Bermuda and Ireland, the tax-friendly countries in which 80 per cent of the world’s passenger aircraft are registered, have cancelled the certificates because the sanctions make it impossible to conduct safety inspections, said Alana Caldwell, a spokeswoman for the Bermuda Civil Aviation Authority. “They’ve all filed claims, and then it’ll probably go to litigation and be stuck in litigation for years,” Ms. Becker said from New York.

E-mailed questions to Yakutia Airlines were not returned. Markus Ruediger, a spokesman for International Air Transport Association, which represents most of the world’s airlines, declined to comment. Global Affairs Canada did not provide answers to e-mailed questions. “We’ve been doing our very best to recover the aircraft and we continue to be try to be in contact with the lessees or the beneficiaries of the leases,” Mr. Nysetvold said. “We’re trying to mitigate our losses. But … Mr. Putin has made it almost impossible to remove aircraft from Russia.

 

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