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• The E.U. closed its airspace to Aeroflot and other Russian international carriers
• The E.U. sanctioned the company’s chief executive, Mikhail Poluboyarinov
Russian carrier Aeroflot, the largest airline of the country, is now loaded with sanctions from the European Union and the West.
The European Union and the U.S. have sanctioned Aeroflot after the E.U. closed its airspace to Aeroflot and other Russian international carriers.
The European Union on Wednesday decided to sanction the company’s chief executive, Mikhail Poluboyarinov.
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Aeroflot, which will celebrate its 100th anniversary next year, has invested in itself heavily over the last two decades to improve its services.
Now, with Russian companies being sanctioned by the West since the country’s invasion of Ukraine, the airline's future is unpredictable.
Many lease jetliners companies have asked Aeroflot to return their planes, resulting in Aeroflot's grounding of international flights. The option left for the carrier is to fly domestically.
The airline also uses planes by Airbus S.E. (NYSE: EADSF) and Boeing Co (NYSE: B.A.) prohibited from doing business with the country. Maintenance of planes amid the sanctions is not possible.
Last month, Delta Air Lines (NYSE: DAL) announced cutting ties with Aeroflot amid the Russia-Ukraine crisis. The airlines had a partnership allowing customers to book seats on each other’s flights.
(With inputs from WSJ)
Picture Credits: Zuma Press