Lessors receive settlements regarding foreign-owned aircraft stranded in Russia

Ural Airlines and S7 airlines have reached a settlement with aviation lessors concerning a number of aircraft and spare engines stranded in Russia. A statement made by S7 Airlines on 22 December 2023 confirmed that the Russian airline had completed a deal with three lessors (AerCap, ALC and SMBC Aviation Capital) for 45 medium-haul aircraft, aided with the participation of Russian state insurance company NSK. AerCap’s agreement with the Russian airlines (totalling approximately $527 million) represents a ‘full settlement of [their] insurance claims under the respective insurance policies’ of the airlines, confirmed the Irish lessor in a December 2023 Securities