Page 91 - RusRPTAug23

learned. Due to this fee, which can be at least 150–300 rubles per person, it is proposed to form a “passenger support reserve fund” in case of bankruptcy of airlines and emergency flight cancellations. Market participants are against the idea: the new fee will increase the cost of tickets, and the benefits of it are not obvious.
According to Kommersant, the Ministry of Transport has returned to the idea, which has been discussed since 2021, to take an additional fee from aircraft passengers to form a reserve fund in case of bankruptcy of airlines or emergency cancellation of flights, as was the case during covid or after the introduction of anti-war sanctions. The agency, according to the publication, notified the carriers in June.
The idea of the collection belongs to Rostec, and the fund’s operator should be Aviagarant, created in the summer of 2021, headed by Alexei Shubenkov, vice president of the Transport Clearing House (TCH) (he declined to comment). Aviagarant is part of the International Processing Systems, which is 75% owned by Sirene-Travel, the developer of the Leonardo booking system, and another 25% by the head of Sirena and member of the Board of Directors of TCH Mikhail Baskakov.
9.1.4 Construction & Real estate sector news
Construction is supported by public funding of investment projects.
Among other sectors of the “real economy,” a significant increase in output in May was also recorded in construction volumes (13.5% Y/y vs 5.7% in April). The residential sector posted a big reverse with volumes up by 4.5% Y/y after a decline of 14.3% Y/y in April. Agricultural output somewhat slowed to 2.9% Y/y in May from a growth rate of 3.2% seen one month earlier.
9.1.6 Agriculture sector news
91 RUSSIA Country Report August 2023 www.intellinews.com