The Russian invasion of Ukraine has drawn condemnation and severe sanctions from governments globally, including the U.S., UK, European Union, Canada, and even neutral Switzerland. Many businesses worldwide have pulled back from doing business with, or suspended selling goods and services in, Russia. The sanctions as a whole will almost certainly have serious and perhaps economically devasting consequences for Russia, including in its business aviation segment.
According to WingX, of the 3,860 private jet flights by Russian aircraft this year as of February 21, large-cabin, ultra-long-range, and VIP airliner business jets represented 43 percent of flight operations in the country. As global flight operations continue to rise, strong demand to purchase such jets persists amid the ultra-low inventory of preowned jets available for sale.
David G. Mayer is a member of the global Aviation Practice Group at Shackelford, McKinley & Norton in Dallas, which handles private aircraft matters, including regulatory compliance, tax planning, purchases, sales, leasing and financing, risk management, insurance, aircraft management and operations, hangar leasing, and related corporate work. Mayer frequently represents corporations and high- and ultra-high-net worth individuals and other aircraft owners, flight departments, lessees, borrowers, operators, sellers, purchasers, corporations and managers, as well as lessors and lenders. He can be contacted at [email protected].
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