Russia has re-registered regarding 800 foreign-owned jets into its domestic register while being sanctioned for the invasion of Ukraine, but leasing companies that have been robbed of their aircraft are moving to claim insurance claims.
Russia offers compensation to aircraft leasing companies-finding ways to avoid sanctions violations
Leasing companies are likely to argue that re-registering an aircraft already registered in another region with Russian registration is a payment reason when claiming insurance, according to people familiar with the matter. Officials said anonymously that the procedure was confidential.
Fitch Ratings estimates that the residual price of the aircraft, which Russia has virtually requisitioned following the invasion of Ukraine, is $ 13 billion. The limit might limit the claim to $ 10 billion, but it still far exceeds the highest ever for aircraft insurance claims. Moody’s Investors Service estimates the damage to be up to $ 11 billion.
Original title:Russian Grab for Foreign Jets Spurs Jump in Insurance Claims (1)(excerpt)
