Bizav growth in Russia comes back down to earth
With oil prices having fallen dramatically, Russia and its once-growing business aviation industry have seen significant declines.
With oil prices having fallen dramatically, Russia and its once-growing business aviation industry have seen significant declines. According to statistics from Maxim Fedosov, executive director at United Business Aviation Association (UBAA), the number of business jet flights in Russian aerospace has dropped below 2006 levels, at around 10,000 a month. Russian operators are responsible for 35 percent, or 5 percent fewer than three years ago.
This decline comes after a period of tremendous growth, when some months saw a 45- to 50-percent increase over 2006 and 20- to 25-percent increase over 2007 levels. Roughly, the total number of flights was 105,000 in 2006, 125,000 in 2007 and nearly 140,000 in 2008.
