Sanctions Russia, all Superjet problems (Sukhoi and Leonardo)
Sanctions against Russia overwhelm Superjet International, the company formed 90% by the Russians of Sukhoi and 10% by Leonardo (formerly Finmeccanica) which has its Italian base in Tessera (Venice)
The sanctions on Russia for the invasion of Ukraine freeze the salaries of SuperJet International workers.
The company is 90% controlled by the Russian company Sukhoi (Uac) and 10% by the Italian Leonardo and has its Italian base in Tessera, in the province of Venice. The company is active in the production, fitting and maintenance services of aircraft for civil use.
In a letter sent to the Government and the Veneto Region, on April 15 SuperJet International raised the alarm on the impossibility of paying salaries. Despite having liquidity in its current accounts, the company has frozen its accounts since March 25 due to the sanctions against Russia decided by the European Union.
In addition, the company is weighed down by "180 million euro of non-receipts, plus 15 million in duties and debts to the Italian state", reports Rainews24 .
Not only. Several Russian airlines operating the Sukhoi Superjet 100 warn that the jet may soon need to be grounded. The problem is with the one engine supplier that has stopped repairing and maintaining their aircraft.
The company has 144 employees in Italy, in addition to another 20 operating in the Moscow offices. Considering the related activities, it is estimated that about 200 families of workers and collaborators, almost all Italians, depend on the company.
The 144 Italian employees have already accepted a 70% layoff from 19 April. But the unions are not there. Probably “Friday 29th there will be a demonstration in front of the Banca Intesa branch” where the frozen account is located, anticipates the secretary of Fiom in Venice.
All the details.
JOINT-VENTURE BETWEEN RUSSIAN SUKHOI AND ITALIAN LEONARDO
When SuperJet was born, the former Finmeccanica (through Alenia Aermacchi), now Leonardo, controlled the company with 51% of the shares. The group then diluted its stake to the current 10%. Now the company is 90% controlled by the Russians from Sukhoi.
WHAT SUPERJET INTERNATIONAL DOES
The company produces the Superjet 100, a 75 or 100-seat aircraft for regional routes, intended exclusively for civil aviation. At the Tessera base, Superjet International prepares, sells and repairs the shells at a rate of 15 per year.
THE COMPANY'S POSITION
"Authoritative legal opinions – reads a note from the company on April 15 – claim that SuperJet International cannot be considered punishable by the restrictive measures recently issued against Russia and various Russian entities (including UAC)". According to the company, "the erroneous application of some sanctions, as well as the application deriving from excessively restrictive interpretations, and some indirect events, are causing a very serious situation for our company, and for all its workers, generating inevitable consequences on the business continuity ".
PAYMENTS BLOCKED BY SANCTIONS
“In a few days – continues SuperJet – our economic and financial situation has dramatically changed. For the current year, our company's budget envisaged collections of approximately 180 million euros, all due from Russian companies, and now blocked by sanctions. Furthermore, the impossibility of continuing commercial and financial relations with Russian entities is generating the need to pay up to tens of millions of euros in VAT and duties to the Italian State, in a situation determined precisely by laws implemented by the State " .
“With bank accounts illegally blocked, the company will not even be able to pay salaries and taxes due in April,” SuperJet then warns.
OTHER PROBLEMS FOR SUPERJET INTERNATIONAL
But the problems for Superjet International do not end with frozen accounts.
"This without even calculating the problems that a company specializing in aeronautical construction can face if forced to stop: for example, ready planes, if kept in Italy for more than 30 days, end up having to pay VAT, which reaches several million of euros ”adds Corriere della Sera .
RUSSIAN AIRLINES COULD EARTH THE JET
Finally, Russian airlines may need to ground their Sukhoi SSJ fleets.
In a letter seen by RBK , IrAero, a Russian airline, warned regional authorities that Russian air carriers operating the Sukhoi Superjet 100 may not be able to fly it for long. According to IrAero, the companies “will not be able to guarantee the repair and mechanical suitability” of the PowerJet SaM146 engines.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/smartcity/sanzioni-russia-tutti-i-problemi-di-superjet-sukhoi-e-leonardo/ on Thu, 28 Apr 2022 05:43:52 +0000.