AVIATION CONTENT !!!
Carlyle Aviation Partners is the latest leasing group suing dozens of insurance firms, claiming a total of about $700 million after aircraft were seized by the Russians. It has filed in Miami that more than 30 insurers have failed to pay up on policies covering 23 Airbus and Boeing jets stranded in Russia.
Earlier this year
AerCap, the world’s biggest aircraft leasing business, filed a claim thought to be worth about $3.5 billion aiming to recoup the value of about 100 aircraft, and last month Dubai Aerospace Enterprise sued insurers two months after it wrote off almost $600 million for 19 aircraft stuck in the country. Leased aircraft worth at least $10 billion are thought to be seized in Russia.
As this is a Special Military Operation rather than a war I wonder if war risks are covered by the affected insurance policies?
Of course this is small beer compared to the reparations that will rightly be sought by Ukraine. If this mess is ever sorted out I would think that lessors and insurance companies may be reluctant to finance Russian aviation.