Home News Moscow announces that all leased foreign aircraft will remain in Russia

Moscow announces that all leased foreign aircraft will remain in Russia

58
0

The imposition of sanctions by Western powers in response to Russia’s military campaign in Ukraine has forced Western leasing companies to terminate leases with Russian airlines for more than 500 aircraft.

The value of the planes leased by Russian airlines from Western companies is estimated at about $ 10 billion. More than 400 of them are still in Russia.

The deadline by which Russia was supposed to return the planes following Western sanctions expired on March 28.

According to analysts, although the planes are insured, the unprecedented nature and magnitude of the potential losses will likely mean years of litigation between landlords and insurers before any payment decisions are made, analysts say.

Read:   Elon Musk buys Twitter for $ 44 billion

Although the total value of aircraft is huge, the impact on individual leasing companies can still be managed, even if value reductions are needed, as aircraft leased to Russian airlines account for less than 10% of most leasing companies’ portfolios.

If you like this article, we look forward to joining the community of readers on our Facebook page, with a Like below:

Previous articleProf. Mencinicopschi, about modified foods: Put chalk in cream and bone glue in honey
Next articleApril Horsocope. Zodiac signs that have good luck with money and career success