Aircraft lessor writes off $1.1bn loss as planes remain in Russia July 9, 2022 Aircraft leasing company SMBC has written off a $1.1bn loss as 34 of its planes remain stranded in Russia following the invasion of Ukraine. The Dublin-headquartered company, one of the biggest in the world, decided to expense the fleet’s value this financial year, as the war in Ukraine is expected to continue for some time [...]
AerCap posts $2bn net loss as jets remain stranded in Russia May 17, 2022 AerCap has posted a $2bn net loss in the first three months of 2022 as more than 100 of its jets remain stranded in Russia following the invasion of Ukraine. The world’s largest aircraft lessor said today that after sanctions were imposed on Moscow by the West, 113 of its jets and 11 engines remained [...]
Lloyd’s of London prepares to fight over picking the tab up for $10bn Russian-seized planes May 2, 2022 Lloyd’s of London and aircraft lessors are reportedly going to war over who needs to pick up the tab after more than 400 foreign-leased planes were seized by Moscow following the invasion of Ukraine. Sources told the Telegraph Lloyd’s of London has hired global law firm Clyde & Co to investigate whether insurance claims made [...]
US lessor Air Lease says 21 jets stranded in Russia April 12, 2022 US leasing company Air Lease Corp said today 21 of its jets were still stranded in Russia after the company terminated all contracts with the sanction-hit country. Air Lease did not reply when asked about how it could get its aircraft back, but it is believed it could claim insurance following the Kremlin’s decision to [...]
Aircraft leasing firm BOC retrieves 747 from Russian operator March 30, 2022 Aircraft lessor BOC Aviation announced today it had retrieved a Boeing 747 freighter from Russian operator AirBridgeCargo. The aircraft was flown on 25 March from Hong Kong to California after a US judge allowed the company to repossess it. The Singapore-based lessor explained that the plane was worth $148m and AirBridgeCargo had breached leases for [...]
Aircraft leasing market could oust Russia beyond Ukraine conflict, lessor says March 29, 2022 Russian airlines could be ousted from the aircraft leasing market well after the end of the Ukraine conflict, said today the world’s second-largest leasing company Avolon. According to the Dublin-based company’s chief executive Domhnal Slattery, the predominantly Irish leasing sector could oust Moscow following the Kremlin’s decision to re-register aircraft as part of its anti-sanctions [...]
Air Canada snubs neighbour Boeing and buys 26 Airbus planes March 22, 2022 Air Canada snubbed US plane manufacturer Boeing and ordered 26 aircraft from EU rival Airbus, the company announced today. The airline announced it was acquiring 26 extra-long range versions of Airbus A321neo, which will be used on North American as well as several transatlantic routes. Air Canada will lease 20 planes from lessors such as [...]
Russian aviation on brink as Bermuda revokes 745 plane licenses, half of country’s fleet March 14, 2022 Bermuda is preparing to revoke the licenses of 745 Russian planes, a move which could ground half the country's entire fleet.
Moscow orders airlines to hold leased planes hostage amid growing sanctions March 10, 2022 The Kremlin today threatened to impound the aircraft leased to Russian airlines, casting doubts over the fate of 780 planes worth a total of $10bn. According to a draft law proposed by the Russian transport ministry, carriers should be required to pay leases in rubles for the whole of 2022, de facto allowing them not [...]
Aeroflot cancels all international flights except for Minsk as sanctions continue to bite March 8, 2022 Russian carrier Aeroflot has suspended all international flights except for Minsk after a growing number of countries imposed restrictions following the Kremlin’s invasion of Ukraine. The Rosaviatsiya, Moscow’s federal air transport agency, recommended airlines to cut down on the number of international flights because they could see their leased aircraft detained, Russian news agency TASS [...]