US EditionWorld’s biggest aircraft owner set for $1bn payout in stranded Russian planes case
- On 10 March 2022, Russia enacted legislation banning aircraft and equipment exports, causing loss of leased planes to Russian airlines.
- This loss triggered a multi-billion-dollar legal dispute between aircraft lessors like AerCap and insurers including AIG and Lloyd's.
- A mammoth trial in London concluded in February 2024, covering nearly 150 jets and some engines valued up to $4.7 billion.
- Judge Butcher ruled that lessors can recover $1.035 billion from war risks insurers, while settlements added over $1.3 billion more between August and December 2023.
- The ruling allows AerCap and others to claim over $1 billion, affirming insurer liability despite sanctions and indicating wider implications for aviation insurance claims.
22 Articles
22 Articles
Insurers Must Pay Up for Jets Seized by Russia, UK Judge Rules
Insurance companies must compensate aircraft lessors and owners for planes that Russia seized when it took counter-sanction measures after the invasion of Ukraine, a UK judge ruled potentially leaving insurers on the hook for billions in payouts.
AerCap can recover over $1 bln, UK court rules in case over jets 'lost' in Russia
The world's largest aircraft lessor AerCap can recover over $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London's High Court ruled on Wednesday, though that is less than the roughly $2 billion it sought.
The world's largest owner and lessor of commercial aircraft, Irish company AerCap, can expect to pay out more than $1 billion after London's High Court ruled that insurers should cover losses on planes hijacked by Russia.
World’s largest aircraft owner can now claim over $1 billion in insurance over jets stuck ...
The world’s largest aircraft lessor AerCap can recover more than $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London’s High Court ruled Wednesday, though that is less than the roughly $2 billion it sought. The court ruled broadly in favor of leasing companies in a
World’s largest aircraft owner can now claim over $1 billion in insurance over jets stuck in Russia
The world’s largest aircraft lessor AerCap can recover more than $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London’s High Court ruled Wednesday, though that is less than the roughly $2 billion it sought.
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