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• Volga-Dnepr stopped operations of two subsidaries that use Boeing aircraft
• US and Europe have closed their airspace to Russian airlines
Russia’s biggest cargo airline, Volga-Dnepr Group, has suspended all flights that use Boeing (NYSE: BA) aircraft after the carrier suspended support for Russian airlines.
The West has responded to Russia’s attack on Ukraine by putting strict sanctions on financial institutions in Russia. Dozens of the world's biggest companies have abandoned or scaled back their operations in Russia.
Also read: Russian airline Aeroflot hit with sanctions
Volga-Dnepr announced that it had stopped operations of two of its subsidaries - AirBridgeCargo and Atran - that use 18 Boeing 747 and 6 Boeing 737 airplanes due to sanctions and a decision by Bermuda's Civil Aviation Authority (BCAA) to terminate their safety certificates.
Boeing’s spokesperson had earlier confirmed the aircraft maker was pausing "parts, maintenance and technical support services for Russian airlines," and had also "suspended major operations in Moscow and temporarily closed our office in Kyiv."
Reuters reported that the US and Europe have closed their airspace to Russian airlines, and Moscow has responded by imposing the same measure on them.
Sanctions have cut off the supply of most aircraft and parts to Russia.
Boeing is not the only carrier to suspend its operations in Russia. Airbus (NYSE: EADSF) followed Boeing with a similar move. In a statement, the company said it has "suspended support services to Russian airlines, as well as the supply of spare parts to the country."
Inputs from Reuters