Lessors with hundreds of jets stuck in Russia are preparing for what one said would be a “vigorous” pursuit of insurance claims while maintaining discreet contact with some customers after Moscow blocked the jets from leaving. The loss of over …
An amendment to European Union sanctions last week created a potential path for some aircraft financiers to sell jets held in Russia to the airlines now operating them without permission. The measure, published April 8, will allow EU governments to …
Air Lease Corp. said on Tuesday it has 21 jets remaining in sanctions-hit Russia, two weeks after a Western deadline for global leasing firms to sever ties with the country’s airlines. All of the company’s aircraft leases to Russian airline …
The likely huge insurance claims related to the cancellation of aircraft leases in Russia is already leading to “horrendous” hikes in the cost of renewing policies, the chief executive of major lessor BOC Aviation Ltd. said on Thursday. Over 400 …
Global insurance losses from the Russia-Ukraine war could range from $16 billion to $35 billion, with reinsurers expected to assume 50% of those claims, according to a report published by S&P Global Ratings. While recent articles in the press have …
AerCap Holdings NV, the world’s largest aircraft-leasing firm, is seeking about $3.5 billion from insurers related to jets and engines stuck in Russia following the invasion of Ukraine. The claims were filed last week, Chief Financial Officer Peter Juhas said …
Aircraft leasing firms are tallying up losses stemming from Russia’s invasion of Ukraine, according to the head of Avolon Holdings Ltd., one of the biggest players in the industry. Lessors are in dialogue with auditors “about what financial provisions should …
Russian airlines could be frozen out of the aircraft leasing market well beyond the Ukraine conflict, one of the industry’s biggest players warned on Tuesday, blaming what executives have described as a default involving hundreds of Western jets. Global leasing …
All Irish lessors terminated their Russian airline leases by Monday’s European Union sanctions deadline and have so far had limited success in recovering their aircraft, the representative body for the sector in Ireland said. Aircraft Leasing Ireland (ALI), members of …
As the clock runs down to Monday’s sanctions deadline for Russian airlines to hand back more than 400 leased planes worth almost $10 billion, foreign lessors are fast losing hope that they will get their aircraft back. Most of the …
