AerCap reaches landmark agreement with insurers over stranded Aeroflot jets

As the conflict between Russia and Ukraine continues, Irish aircraft lessor AerCap has reached an agreement with insurers over 17 jets it has on lease to Aeroflot and which are presently stranded in Russia. Currently there are over 400 Western aircraft in Russia as a consequence of the invasion of Ukraine.

AerCap has confirmed it has received US$645 million from NSK, the Russian state-owned insurer, in full settlement for the claims in relation to the 17 aircraft together with five spare engines which are on lease to either the state-owned carrier or its subsidiary, Rossiya.

The aircraft in question will now become the property of NSK.