Explainer: How sanctions against Russia are battering the global aviation industry

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Airfares set to rise amid surging costs for oil, with Qantas warning of higher prices ahead, due to sanctions on Russia

The European Union has given leasing companies until March 28 to wind up current rental contracts in Russia.

Russia's state aviation authority recommended that airlines with foreign-leased planes stop flying them abroad. Russian airlines have also been cut off from the insurance and reinsurance markets in the European Union and Britain.

 

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