Clean Break: the company completely halting Russian engagements or exiting Russia
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AerCap Holdings N.V. is the largest aircraft leasing company.
Clean Break: the company completely halting Russian engagements or exiting Russia
Leave WithdrawalAerCap ended leases on 135 planes and 14 engines to comply with sanctions imposed on Russia following the country’s invasion of Ukraine a year ago, but was able to recover some of its assets. AerCap said that as part of the settlement it received cash payments under insurance contracts for the S7 and Ural Airlines aircraft in the amount of about $572 million for 47 aircraft and five engines.
Suspended leasing activity with Russian airlines (5 percent of its fleet was leased by Russian airlines at the end of 2021). Ireland-based AerCap in a stock market filing said it had received $645 million from insurance company NSK in full settlement of insurance claims in relation to 17 aircraft and five spare engines leased to state-controlled airline Aeroflot and its subsidiary Rossiya. AerCap receives $572mn pay-out from Russian insurer. The world's largest aircraft lessor AerCap can recover more than $1 billion related to planes stranded in Russia after the invasion of Ukraine, London's High Court ruled, although that is less than the roughly $2 billion it had sought.