Report: Russia may ban trans-Siberian flights for EU airlines

|By:, SA News Editor

Russia may impose restrictions or a ban on European airlines using trans-Siberian routes, in retaliation for the new EU sanctions over Ukraine, Reuters reports quoting the Vedomosti.

If imposed, the restrictions would weaken European airlines' competitive advantage over Asian rivals due to longer flights and higher fuel costs.

The constraints would highly affect Lufthansa (OTCQX:DLAKY), British Airways and Air France (OTCQX:AFLYY), and could lead to potential losses of $1.3B for three months of restrictions.