Russia’s largest cargo airline to droop all Boeing flights By Reuters

(Reuters) – Russia’s largest cargo airline Volga-Dnepr Group has suspended all flights utilizing Boeing (NYSE:) plane as a consequence of Western sanctions, it mentioned on Friday.

Sanctions have reduce off the provision of most plane and components to Russia. The USA and Europe have closed their airspace to Russian airways, and Moscow has responded by imposing the identical measure on them.

Volga-Dnepr mentioned in an announcement it had stopped operations of two of its subsidaries – AirBridgeCargo and Atran – that use 18 Boeing 747 and 6 Boeing 737 airplanes as a consequence of sanctions and a call by Bermuda’s Civil Aviation Authority (BCAA) to terminate their security certificates.

“The administration of Volga Dnepr has made a aware resolution to discover a potential answer along with companions and state regulators,” it mentioned.

Volga-Dnepr, which describes itself because the world chief within the oversize and heavy cargo market, continues to fly Russian-made plane together with An-124 and Il-76 cargo jets.

Russia has handed a legislation permitting the nation’s airways to position plane leased from overseas corporations on Russia’s plane register – a manoeuvre more likely to stoke Western fears of a mass default involving tons of of jetliners.