Seventy-eight Russian aircraft have been seized abroad, the Interfax news agency quoted Transport Minister Vitaly Savelyev as saying on Tuesday, as Moscow grapples with the consequences of international sanctions over events in Ukraine. Sanctions have cut off the supply of …
Insurers and reinsurers could face claims as high as US$10 billion in a worst-case scenario due to the grounding of planes in Russia, Fitch Ratings said. More than 500 planes that are financed or owned by non-Russian lessors are stranded …
Aircraft-leasing firms working to retrieve planes from Russia are set to collide with an aviation-insurance industry bracing for an unprecedented barrage of claims. Lessors of planes stuck in Russia since the onset of sanctions have warned insurers of possible claims …
A new Russian law on leased aircraft showed Moscow could “confiscate” planes and such a move might help it claim insurance, Air Lease Corp. said at a time when leasing firms risk writing off jets stranded in the sanction-hit country. …
Bermuda’s aviation regulator said it is suspending certification of all Russian-operated airplanes registered in the British overseas territory due to international sanctions over the war in Ukraine, in a move expected to affect more than 700 planes. The regulator said …
Global leasing companies staring at an imminent sanctions deadline to repossess more than 400 jets worth almost $10 billion from Russian airlines have received mostly radio silence as experts warn of legal wrangling that could last a decade. Western bans …
Russia’s size and close integration into the global aviation industry since the end of the Cold War means sanctions related to its invasion of Ukraine are having outsized consequences relative to earlier freezes on Iran and North Korea. Manufacturers, lessors, …
The fallout to the global aviation industry from Russia’s invasion of Ukraine is spreading beyond the airspace closings over the conflict zone as airlines, lessors and manufacturers face up to growing risks of doing business with Russia. Alaska’s Anchorage Airport, …
