The delays in re-registering Ural Airlines’ Airbus fleet and transferring iFly into Russian ownership stem from tighter conditions set by aviation authorities for private carriers. Aeroflot remains the sole operator permitted to complete the re-registration of 49 aircraft, a process financed through funds from the National Welfare Fund. Sources connected to the publication Kommersant indicate that private carriers were offered financial leases that required a sizable upfront deposit of 30-40% of the aircraft’s cost and an obligation to allocate a portion of annual net profits toward the purchase. Those terms effectively shifted ownership to the leasing financier once the agreement was in place, a move described in the leasing market as extraordinary. (Kommersant)
At the same time, Ural Airlines and iFly have not yet reached agreement on contract terms with NLK-Finance, the leasing company controlled by the Federal Air Transport Agency and linked to the National Security Council. The negotiations appear to hinge on the structure of the lease and how ownership rights would transfer over the term of the contract, as well as who bears responsibility for ongoing maintenance and regulatory compliance. (Kommersant)
The core dispute centers on how a financial lease should be arranged and the demand for a 30-40% upfront payment. In addition, carriers were asked to channel 30-40% of their annual net profits into a buyback program for the aircraft. It remains unclear who initially proposed these supplementary conditions; one anonymous source suggested that the Finance Ministry was pushing for their implementation, while government spokespeople have asserted that the finance bloc had not issued such requirements. The divergence between ministries has fed speculation about the policy intent behind these stringent leasing terms and the potential implications for fleet modernization and market competition. (Kommersant)
Another angle in the reporting notes that incidents involving birds affecting Russian aircraft have been a recurring topic, highlighting safety and regulatory concerns that may influence leasing decisions and the broader fleet renewal timeline. Industry observers point out that the combination of stricter financial terms and heightened oversight could slow the pace of asset transfers, complicate private carriers’ access to modern routes, and alter how airlines balance ownership versus leasing in a capital-intensive sector. (Kommersant)