Air Lease gets $329 million in insurance payout for jets stranded in Russia

Reuters

Mon, Mar 24, 2025, 5:48 AM 1 min read

(Reuters) - Aircraft lessor Air Lease Corp said connected Monday it has received $328.5 cardinal successful cash, arsenic portion of definite security settlements related to its craft which were blocked from leaving Russia aft the country's penetration of Ukraine.

Before the penetration successful aboriginal 2022, Russia was a cardinal marketplace for craft lessors, who purchased jets from Boeing and Airbus and leased them to the country's airlines.

Lessors canceled these leases pursuing Western sanctions, but Moscow refused to instrumentality the aircraft, efficaciously detaining them. Since then, lessors person been pursuing their insurers to retrieve losses connected the stranded jets.

Air Lease said successful a regulatory filing connected Monday that it has recovered astir $424.3 cardinal from its archetypal $791.0 cardinal assertion to date.

The leasing steadfast remains successful colony talks with different insurers.

(Reporting by Anshuman Tripathy successful Bengaluru; Editing by Shailesh Kuber)