Airbus, along with company rival Boeing, is the latest company to cut ties with Russia. This is another move that supports the rest of the aviation industry’s outlook on the situation, as more companies and countries are electing to discontinue operations, suspend production and support, and forgo plane leases in Russia.
This past Tuesday Boeing decided to cut ties as well, and said that they are suspending production of all parts, maintenance, and support to Russia.
With nearly all European airlines opting to not operate or fly into Russia, this is another blow to the already fragile aviation industry in Russia.
A representative on behalf of Airbus made a statement on the move. “In line with international sanctions now in place, Airbus has suspended support services to Russian airlines, as well as the supply of spare parts to the country… Services provided by the Airbus Engineering Centre in Russia (ECAR) have also been suspended pending further review.”
Oil companies have also made similar moves as well. Exxon Mobil dumped $4B of assets in Russia, Shell and BP also dumped investments, along with many others. BP dumped almost a 20% stake in a Russian-owned oil company following the events.