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VEGAS LEX drafts local air services financing program
The VEGAS LEX law firm is working on proposals concerning additional funding sources for regional air service programs in Russia
The VEGAS LEX law firm has won another tender for a government research project to work out and rationalize proposals concerning non-government funding sources for regional air service programs.
At present, the Russian Government has five subsidy programs for air services, covering flights to the Russian Far East, the Kaliningrad Region, the Volga Area, Siberia and Crimea. VEGAS LEX and First Infrastructure Company InfraONE are to develop and present an alternative financial model for remote but socially important flight destinations to eventually replace the existing government financing programs.
As part of this research project, VEGAS LEX lawyers will study international experience in financing local flights in the European Union, the United States, Britain and Australia, and will propose ways to introduce best international practices in Russia. InfraONE's job is to estimate the potential economic effect of the planned financial model and present a budgeting efficiency rationale.
The project will also involve working out a new regulatory system for regional flights in Russia and drafting relevant government resolutions.
The project is being implemented by VEGAS LEX's Aviation and Airport Development Group led by Karen Arakelyan and the PPP&Infrastructure Practice.
For more information on the company's services in the Aviation and airport development industry, please click here.
For more information on VEGAS LEX's public-private partnership and infrastructure projects, please go here.