Aircraft leasing companies have won a multibillion-dollar lawsuit against insurers in relation to planes stranded in Russia after the invasion of Ukraine in February 2022. Western sanctions forced aircraft leasing companies to cancel their contracts with Russian carriers by 28 March 2022, initially leaving the industry with losses estimated to be $10bn. Initially, Russia faced demands to return the “stolen” planes but Moscow refused, prompting the claims in Dublin and London. Many of the planes were re-registered by Russia without their owners’ consent and sold on to Russian airlines. Ireland’s high court was told last month that all the cases in the Dublin court case had either been settled or were in the course of being settled.

Source: The Guardian June 12, 2025 03:54 UTC