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 …
Russia’s move to transfer almost 800 foreign-owned jets to its own aircraft register amid foreign sanctions has triggered a wave of insurance claims from leasing firms whose fleets have effectively been commandeered. Lessors will assert that registering the planes in …
Russia offered to compensate owners of jets commandeered by the country, a bid to smooth relations with leasing companies that stand to lose billions of dollars on rented aircraft they can’t get back. Authorities in Moscow are seeking ways to …
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 …
