Irish company AerCap has been granted permission by the High Court in London to recover over $1.03 billion in damages for aircraft stranded in Russia following the launch of the full-scale invasion of Ukraine in 2022, reports the Baltimore Chronicle with reference to Reuters.
This compensation ranks among the largest ever awarded by British courts. The ruling comes as part of a wider legal dispute involving multiple leasing companies suing major insurance firms over aviation losses caused by Russia’s actions.
Judge Christopher Butcher determined that nearly 150 aircraft and engines were lost on March 10, 2022—the day when Russian legislation officially prohibited their export. The court concluded that these losses were the direct result of “an act or order of the government of Russia,” making them eligible for reimbursement under “war risk” insurance policies, as opposed to general “all risks” coverage originally hoped for by AerCap.
AerCap initially filed a $3.4 billion claim in October 2024, which was later reduced to just over $2 billion following partial settlements. Claims from other leasing companies in the same case total several hundred million dollars.
The judge also ruled that EU and U.S. sanctions do not prevent insurers from compensating plaintiffs for aircraft leased to Russian carriers and subsequently lost.
On February 26, 2022, the European Union imposed a comprehensive ban on the sale, lease, insurance, and maintenance of aircraft, helicopters, and other aviation equipment to Russia. The following month, Russian President Vladimir Putin signed a law allowing domestic airlines to continue operating foreign-leased aircraft without foreign certification. Around that time, Russia transferred approximately 800 aircraft to its national registry—planes either owned by foreign lessors or registered in foreign jurisdictions.
Earlier we wrote that Boeing to plead guilty, but public trial may be averted.