The lawsuit, led by Ireland’s AerCap and Dubai Aerospace Enterprise, was focused on 147 jets, as well as some engines, with an estimated total value around $4.7 billion. (Credit: AdobeStock)
London’s high court has ruled that aircraft lessors can recover over $1 billion from insurers for jets that have been stuck in Russia since its invasion of Ukraine in 2002. These insurers include AIG, Lloyd’s, Chubb and Swiss Re.
The lawsuit, led by Ireland’s AerCap and Dubai Aerospace Enterprise, was focused on 147 jets, as well as some engines, with an estimated total value around $4.7 billion, though the request claim amount decreased as the trial went on due to settlements.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
