PROSPECTS FOR THE DEVELOPMENT OF THE RUSSIAN PASSENGER AIRLINER MARKET IN THE CONTEXT OF MACROECONOMIC INSTABILITY
The article presents an analysis of the passenger airliner market and an assessment of its development prospects in the context of macroeconomic instability caused by the COVID-19 pandemic. The Russian Federation is working to create a national aviation industry, which was significantly lost after the collapse of the USSR. The SSJ-100 midrange passenger airliner has been developed and mass-produced, and the newest MS-21 passenger airliner is undergoing flight tests. Operation of the SSJ-100 liner has proved its effectiveness. The leading national airline Aeroflot operates 49 SSJ-100 units. Other domestic operators are Gazpromavia, Yakutia, Yamal, IrAero, and Azimut airlines. The cost of SSJ-100 and MS-21 is significantly lower compared to foreign competitors. Based on the analysis of the global passenger air transportation market in 2014 and forecasts up to 2034, the segment of short-and medium-range air routes from 500 to 5000 km is the most popular. National airlines operate foreign-made aircraft (European Union, USA, Brazil, Canada). At the same time, the average age of the national airline fleet is extremely high. The data provided by airlines from France, Italy and the United States shows that these states are implementing support measures aimed at stimulating the demand of domestic aircraft manufacturers. The development of state support measures for national airlines operating the SSJ-100 and MS-21 Airliners contributes to the development of the national civil aircraft industry in conditions of macroeconomic instability.
Keywords: aircraft construction, civil aircraft construction, SSJ-100, MS-21, macroeconomic instability, COVID-19.
Highlights:
♦ the passenger air transport market is an indicator of the development of the civil aircraft industry;
♦ the European experience of airlines overcoming the global financial crisis in 2008 has shown that in conditions of macroeconomic instability, the demand for affordable, low-cost air transportation is increasing;
♦ the main provision of the concept of budget airlines is the simultaneous operation of aircraft of the same type with the maximum possible indicator of operational efficiency;
♦ the largest budget airlines in Europe - "easyJet", "Wizz Air", "Ryanair", "Transavia" made a one-time purchase of a significant number of aircraft units in the period of 2009-2012 in order to expand the fleet and develop the route network;
♦ the COVID-19 pandemic has extremely negative consequences for the passenger air transport industry, which, in turn, will have a very negative impact on the civil aircraft industry. Overcoming the crisis situation is possible with the implementation of effective measures of state support of market participants (aircraft manufacturers and airlines).
Vladimir V. Rublev, Post-graduate student of the Strategic Planning and Management of Housing and Communal Complex Department of the Institute of Economics and Management of Vladimir State University.