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Biggest jet leasing company lodges $3.5bn claim for aircraft stuck in Russia

AerCap’s move sets stage for protracted battle between industry and insurers

AerCap, the world’s biggest aircraft leasing company, said it had lodged an insurance claim of $3.5bn to cover the potential loss of its planes and engines that remain stuck in Russia, setting the stage for a protracted battle between the industry and insurers.

The Dublin-based company had the largest exposure of any foreign lessor to Russia when western sanctions were introduced after its invasion of Ukraine.

It said on Wednesday it had about $2.5bn at risk and warned it expected to at least partially write down the value of its assets in the first quarter.

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