Chubb, Fidelis and Lloyd's are among the insurance companies that have been granted permission to appeal a London court ruling in favor of aircraft lessors over jets stuck in Russia since its attack on Ukraine began in early 2022.
In June 2025, London's High Court ruled that aircraft lessors could recover over $1 billion from insurers for the jets. The lawsuit was led by Ireland's AerCap and Dubai Aerospace Enterprise and focused on 127 jets, as well as some jet engines, with an estimated value of $4.7 billion. However, that figure diminished due to settlements over the course of the trial.
In total, AerCap was able to secure $1.035 billion for the loss of 116 aircraft and 15 engines. Other claimants, including Dubai's Falcon and Genesis, Merx Aviation and KDAC Aviation Finance, settled their claims during the trial.
A justice ruled that the jets were considered "lost" as of March 10, 2022, when Russia barred the exportation of aircraft and equipment. This ruling allowed the aircraft lessors to recover these losses under their war risk insurance policies.
These war risk insurers have now been granted permission to challenge this ruling in the U.K. Court of Appeal. The appeal hearing is expected to last five days, according to Reuters.
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