30 billion rubles will be allocated to subsidize loans for the purchase of aircraft

The Russian government has extended the program of subsidizing loans that are attracted by leasing companies for the purchase of domestic aircraft; in the coming years, more than 30 billion rubles are provided for this purpose in the budget, reported in the press service of the Cabinet.

The government subsidizes loans for the purchase of aircraft in 2023-2025. According to a decree signed earlier by Prime Minister Mikhail Mishustin, the current program of subsidizing interest rates on loans will be extended to loans taken this year. The Cabinet explained that so far the program has allowed subsidizing loans taken in 2008-2022.

Its extension will help reduce the costs of lessors and partially offset the financial burden on airlines, the report says.

A subsidy program for leasing companies that purchase domestic aircraft was launched in 2012, it provides for the state to reimburse 90% of the cost of paying interest on a loan.

In April, the Ministry of Transport of the Russian Federation requested government subsidies for domestic airlines for transportation in the summer season. Deputy Minister of the Department Igor Chalik then recalled that in the winter schedule from November 2022 to March 2023, 25.3 billion rubles were allocated to airlines. According to him, this made it possible to transport 27.4 million passengers within the country.