Thats gotta hurt…
From the article:
The crisis has shone a spotlight on the small staff running Bermuda’s Civil Aviation Authority. The tiny island has oversight of almost 800 aircraft – some 777 of those Russian
So, even if nobody anticipated trade sanctions on russia, this was a good idea…?
Course it was. Quick money for shareholders with no thought to the future or having a backup in the name of constant growth.
Thats modern capitalism 101.
Ah, yes… I skipped that class.
Me too mate. Hence my bank account looking like a freezing thermometer
It makes perfect sense if your primary concern is avoiding regulations, taxes, oversight or any combination of the above.
Standard business practices. The next step of course, will be figuring out how to make the taxpayers responsible for reimbursing for them for the loss, if insurance is not interested in doing so.
I see that.
But as a lessor of such high value aircraft, I would feel more comfortable with them being registered somewhere I could rely on help from the government, should any problems arise.
You leased your aircraft to russian companies and registered them at a flag of convenience… Well…oups!
Not in celsius, I hope