High Court Victory: Aircraft Leasing Companies Win Legal Battle
London's High Court ruled in favor of aircraft leasing companies over jets held in Russia after the Ukraine invasion. AerCap and others sued insurers in one of the biggest insurance disputes in London involving $4.7 billion in assets, including jets and engines.
- Country:
- United Kingdom
The High Court in London delivered a significant ruling on Wednesday, siding with aircraft leasing companies in a high-stakes legal battle over jets withheld in Russia since the 2022 invasion of Ukraine.
This case saw AerCap, the largest aircraft lessor globally, along with several counterparts, taking on insurers such as AIG, Lloyd's, Chubb, and Swiss Re. It marks one of the most substantial insurance disputes ever adjudicated in the UK's capital.
The legal proceedings initially centered on nearly 150 aircraft and engines, collectively valued around $4.7 billion. However, due to settlements reached — including some during the trial's outset in October — the number of disputed assets has significantly decreased.
(With inputs from agencies.)
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