Lessor AerCap in $645m settlement with Russian insurer over 17 stranded jets

World’s largest leasing company says agreement reduces to $2.75bn the value of its $3.4bn insurance claim over lost aircraft and engines

Aengus Kelly, AerCap’s chief executive: the Irish lessor has been pursuing insurance claims over planes it has leased to Russian airlines which became stranded after the invasion of Ukraine. Picture: Fergal Phillips

AerCap, the Irish-based aircraft lessor, has received $645 million (€601 million) from a Russian insurance company to settle a dispute over 17 aircraft that had become stranded in the country after its invasion of Ukraine.

In a stock filing with the US Securities and Exchange Commission, the world’s largest lessor confirmed that it had received a payment worth $645 million from NSK, a Russian insurer, in an insurance settlement related to 17 jets and 5 ...