Analysed the tax implications of the termination of lease agreements

A team from our tax practice advised a major airline on the tax implications of the termination of international aircraft lease agreements. Russian airlines found themselves in a unique political and legal situation when international private law institutions have come into conflict with Russian legislation and the special regulation of relationships with hostile countries. This conflict could have resulted in a dramatic increase of expenses on maintaining aircraft, which in the modern financial conditions would have threatened the business of many airlines.

Our lawyers prepared an opinion on a number of key tax issues. The conclusions were confirmed by an opinion from a leading R&D institution.