Belavia’s current Boeing stock is no longer serviceable due to US sanctions. Credit: Soos Jozef/Shutterstock.

Belavia, the Belarus flag carrier, has been operating while restricted by sanctions for more than two years but remains financially stable, according to its CEO.

The airline was hit by sanctions stemming from the actions of the Minsk Government in 2021, including the forced landing of a Ryanair jet, which were later extended when President Lukashenko supported the Russian invasion of Ukraine in 2022. 

Related Company Profiles

View all

The European Union banned Russian and Belarusian planes from its airspace, which severely restricted Bealvia’s route options. The airline has pivoted heavily towards former Soviet states and the Middle East. 

The anti-war sanctions have restricted trade with companies in Russia and Belarus, which has created stock issues for Belavia. 

Although the airline operates Boeing and Embraer jets, sanctions mean the companies have stopped servicing and parts supplies. This has both increased costs for the airline and forced it to look elsewhere for its next fleet upgrade. 

See Also:

Belavia CEO Igor Cherginets said: “We are preparing agreements with United Aircraft Corporation for the purchase of MS-21 and Superjet New.” 

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“I very much hope that this will be the case and that we can expand the airline’s fleet,” he added. 

But before the renewal can be finalised, spares and repair costs have escalated. 

“Our spending on components has practically tripled,” Cherginets explained. 

Despite the increased costs and restrained income from fewer flight operations, Cherginets told a press conference in Minsk the airline is not losing money. 

“We work profitably and, unlike Russian companies, do not receive any subsidies,” he told local media.