Russia's size and close integration in global aviation since the end of the Cold War mean sanctions related to its invasion of Ukraine are having outsized consequences on the industry, relative to earlier freezes on Iran and North Korea.
Manufacturers, lessors, insurers and maintenance providers for Russian carriers like Aeroflot, S7 Airlines and AirBridgeCargo are among those outside Russia that are being hit directly by sanctions.
Foreign airlines, meanwhile, are reeling from higher oil prices and the longer routes needed to bypass airspace over Russia, which are expected to drive up ticket prices and air-freight rates.