Air Lease Corp. stated on Tuesday it has 21 jets remaining in sanctions-hit Russia, two weeks after a Western deadline for international leasing companies to sever ties with the nation’s airways.
All the firm’s plane leases to Russian airline prospects have been terminated final month, it stated.
In March, Air Lease stated a brand new Russian regulation permitting Moscow to “confiscate” planes would possibly assist it declare insurance coverage. The brand new regulation permits Russian airways to put airplanes leased from overseas corporations on the nation’s plane register.
The corporate had additionally stated it was making “good headway” in chopping publicity to Russia following Moscow’s invasion of Ukraine.
It didn’t instantly reply when requested about steps taken to recuperate the remaining plane caught in Russia, which signify about 3.4% of the corporate’s fleet by internet ebook worth, as of March 31.
World leasing corporations have been scrambling to repossess greater than 400 jets price nearly $10 billion from Russian airways, which have largely been unresponsive to calls for for surrendering the jets.
Final week, Singapore-based BOC Aviation Ltd. stated it was within the means of recovering 17 owned plane from Russia.
The world’s prime plane lessor, AerCap Holdings, submitted an insurance claim final month for greater than 100 jets caught in Russia following the invasion.
(Reporting by Aishwarya Nair in Bengaluru; enhancing by Devika Syamnath)
{Photograph}: Aeroflot’s passengers planes are parked at Sheremetyevo airport, exterior Moscow, Russia, on Tuesday, March 1, 2022. Photograph credit score: AP Photograph/Pavel Golovkin.
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