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 …
French insurer AXA said on Friday that it has stopped all new investments in Russian assets and would no longer underwrite reinsurance of the country’s insurance companies. It said it had stopped underwriting new insurance business and all renewals concerning …
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 top shipping company Sovcomflot (SCF), already struggling to find berths to discharge cargoes, is facing fresh pressure after the UK on Thursday joined countries that have slapped sanctions on it, with implications for insurance and certification. With a modern …
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 …
Hundreds of companies have said they are withdrawing or suspending operations in Russia after its invasion of Ukraine, from energy producer Shell Plc to carmaker Hyundai Motor Co. to PwC, a global professional services firm. The following is a look …
A Moscow court said on Monday that Meta was guilty of “extremist activity,” but the ruling will not affect its WhatsApp messenger service, focusing on the U.S. firm’s already-banned Facebook and Instagram social networks. Meta did not respond to requests …
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 …
