Russia set to relax rules on foreign ownership of operators

Russia set to relax rules on foreign ownership of operators

25-Apr-2011 Source:

The current 49% limit on shareholdings in Russian air operators is set to be relaxed, with representatives from the Ministry of Transport, Ministry of Economy, Rosaviatsia and law enforcement agencies meetin to discuss possible changes to article 61 in the “Air Code” legislation.

The Ministry of Economy have declined to comment on the situation, and Deputy Transport Minister Valery Okulov has reportedly said that he “sees no reason to change the 61st article of the Air Code”.  The deputy head of the Duma Committee on Transport Sergei Gavrilov was certainly willing to discuss the issue in the context of Russia’s accession to the World Trade Organisation, as well as the shadow of participation in particular situations involving Turkish investment in tour operators and airlines. According to the forecasts of Mr. Gavrilov, proposals for changes will be presented to the Government Commission on Transport and Communications this summer.

While aimed at the “airlines and airliners” end of the market, there is no reason that this cannot map onto the rotary wing market, and it should open up significant opportunities for the larger operators such as CHC, Bristow, PHi etc to make some inroads to the offshore support market from bases in Russia

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