Russian Bizav Growth On Display At Moscow’s Jet Expo Show
Russia’s seventh annual Jet Expo show is set to open on September 27, with organizers expecting more than 100 exhibiting companies from 27 countries and up to around 50 business aircraft at Moscow’s Vnukovo Airport. According to Jet Expo managing director Nikita Gorchakov, the rapid expansion of the three-day show reflects strong growth in demand for business aircraft in Russia and the wider Commonwealth of Independent States (CIS). In addition to the majority of the world’s business aircraft manufacturers, the Jet Expo indoor and exterior exhibit areas at the Vnukovo-3 Business Aviation Center will also features leading service providers from across the CIS itself, as well as from Europe, North America and the Middle East. Also on display will be a selection of luxury yachts, reflecting the visible growth in personal wealth in Russia over the past decade.
According to Jet Expo organizers, there are now 158 business jets registered in Russia, of which 83 percent are either operated for corporate use or in the charter market, with the remaining 17 percent being operated on behalf of private individuals. Due to complications involved in registering foreign-made aircraft, and other considerations, many more aircraft owned by Russian companies and individuals are registered in other countries. Among the major Russian corporations owning business jets are Gazprom, Norilsk Nickel and Severstal.
In a press release issued before Jet Expo 2012 opened, show organizers reported that the average price paid for business jets operating in Russia is between $14 million and $26 million, with many of the aircraft having been previously-owned. According to the company, the most popular aircraft types in Russia today are the Embraer Legacy 600, Bombardier’s Challenger 300 and the Challenger 604/605.
According to Jet Expo, almost two-thirds of all business aviation traffic in Russia is in and out of four Moscow-area airports: Vnukovo, Sheremetyevo, Domodedovo and Ostafievo. Almost one-quarter of traffic operates into St Petersburg’s Pulkovo Airport. Other popular destinations are Nizhny Novgorod, Samara, Ufa and Novosibirsk.