🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Airbus halts Russia parts, studying engineering centre options

Published 03/02/2022, 04:10 AM
Updated 03/02/2022, 04:18 AM
© Reuters. FILE PHOTO: The logo of Airbus is seen on a building in Toulouse, France, March 11, 2021. REUTERS/Stephane Mahe

PARIS (Reuters) - Airbus said on Wednesday it had stopped sending spare parts to Russia and supporting Russian airlines, but was analysing whether its Moscow engineering centre could keep providing services to local customers under Western sanctions.

"Airbus has suspended support services to Russian airlines, as well as the supply of spare parts to the country," a spokesperson said in an emailed statement.

"The Airbus Engineering Centre in Russia (ECAR) has put on hold all its operations for Airbus in line with sanctions," the statement said.

© Reuters. FILE PHOTO: The logo of Airbus is seen on a building in Toulouse, France, March 11, 2021. REUTERS/Stephane Mahe

"Regarding engineering services ECAR provides to its Russian customers, ECAR is analysing the export control sanctions to determine if this activity can be maintained in line with the sanctions," Airbus said, adding it obeys all applicable laws.

The Airbus Engineering Centre in Russia was set up in 2003 under a joint-venture between Airbus, Systema Invest and the Kaskol group and employs 200 Russian engineers, according to the company's website.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.