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Gulfstream navigating Russian market amid sanctions
Gulfstream navigating Russian market amid sanctions
Gulfstream navigating Russian market amid sanctions
Gulfstream is continuing efforts to sell and maintain aircraft in Russia while also navigating economic sanctions by the USA and Europe that target certain individuals – including some of the company's clients. One of Gulfstream's customers on the US sanctions list is Gennady Timchenko, who reportedly owns the sixth G650 off the assembly line. In March, the US Treasury Department described Timchenko as the founder of an oil and energy commodity trading firm, of which Russian prime minister Vladimir Putin is an investor. Putin also "may have access" to the firm's funds. More recently, Gennady complained to Russia's ITAR-TASS news agency in a 31 July report that his G650 is effectively grounded because of the sanctions. He says Gulfstream has informed him the airframer cannot send spare parts or allow his pilots to use the maps included in the aircraft's navigation system. The incident puts Gulfstream in the awkward position of wanting to support customers while still fully complying with US and European trading rules. Steve Cass, Gulfstream's vice-president of communications, says he is aware of Gennady's reported comments, but is unable to discuss specific customers. More generally, Cass says Gulfstream can still deliver and support aircraft linked to Russian clients, despite the sanctions. "We can deliver airplanes, we can support people," Cass says. "It just depends on where they're at on that sanctions list. Certain people in Russia you're not able to do a lot of business with." Russia has proven a thriving market for business jet manufacturers – but particularly for Gulfstream. Amid a worldwide recession, Gulfstream's fleet in Russia expanded by 600% between 2007 and 2012, according to a company news release. Cass notes that the entire business aviation industry has been impacted by the sanctions, which were imposed in response to the seizure by pro-Russian forces of Crimea and parts of eastern Ukraine. "Are we able to still do business? Yes we can," Cass says. "We just have to be careful about how we do it."

Поделиться: http://www.flightglobal.com/news/articles/gulfstream-navigating-russian-market-amid-sanctions-402596/ STEPHEN TRIMBLE
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