High Court Ruling Favors Aircraft Lessors in Historic Insurance Dispute
London's High Court ruled in favor of aircraft leasing companies in a multi-billion-dollar dispute over jets retained in Russia. The decision allows lessors to claim losses from war risks insurers. AerCap and others secured over $1 billion in settlements, overcoming challenges relating to Russian sanctions.
In a landmark decision, London's High Court has sided with aircraft leasing companies involved in a high-stakes legal dispute over jets that have been retained in Russia since the 2022 Ukraine invasion.
The case, featuring major players like AerCap and insurers such as AIG and Lloyd's, focused on nearly 150 aircraft, once valued at up to $4.7 billion.
Judge Christopher Butcher ruled that the aircraft were lost due to Russian legislation banning their export, allowing claims under war risks rather than all risks insurance, thus securing significant financial recovery for the lessors.
(With inputs from agencies.)
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