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3 October 2023Insurance

Aircraft lessor SMBC strikes deal with Aeroflot insurer for 16 planes

Aircraft lessor SMBC Aviation Capital received $710 million in cash from a Russian insurer for 16 aircraft and engines previously leased to Russia’s state-owned flagship airline Aeroflot, nearly half its asset losses following the Russian invasion of Ukraine.

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More on this story

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3 January 2023   Ten global specialty insurers and ten Lloyd’s syndicates called to court in the case.
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1 December 2022   The lessor had written its $1.6bn impairment for 34 lost aircraft after Russian sanctions.