Business aviation companies eager to tap Russian private and corporate wealth could be in luck here in Geneva this week because the country’s economy is bouncing back and Russians are once again shopping for aircraft. Russia’s economy is seeing growth rates as high as 10 percent–a figure that puts most of Western Europe in the shade. This prosperity is being driven in no small part by the elevated price of oil, which indirectly lines Russian pockets with petrodollars.
More good news comes from the fact that over the past two years the Kremlin has eased import duties for foreign-made business jets. Now such aircraft with a maximum zero fuel weight of between two and 20 metric tons (that is, up to just over 44,000 pounds) can be imported at no charge. Since the Gulfstream G450 is largest aircraft meeting these criteria, most of the revived Russian interest lies with smaller or similarly sized aircraft. Larger models are still subject to import duty so many Russian buyers would still avoid legally importing them into Russia by using one of several offshore registers.
