Russia seized 113 planes from the world’s largest aircraft owner – Observer

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Following the sanctions imposed on Russia due to to the war in UkraineAerCap Holdings, the world’s largest aeronautical owner, lost 113 planes to the country, which seized them.

Multimedia reporting in Andriivka. Radiograph of a village under Russian occupation for 30 days

This is because sanctions from several countries have required international leasing companies to leave Russia by the end of March. At least 79 aircraft were recovered, however those that remained are being nationalized.

Still running out of 11 engines, AerCap Holdings managed to recover 22 jets and three engines before they fell into Moscow’s hands and has already filed insurance to try to recover the confiscated aircraft — only some of these claims are filed with Russian insurance companies.


With a total of 1,624 aircraft — more than any company in the field — the planes lost to Russia represent less than 5% of the net value of Aercap’s fleet, which grew during the pandemic by buying rival leasing company GECAS from General. Electric (GE).

The Irish-based aircraft leasing giant had to recognize an extraordinary loss of US$2.7 billion (approximately €2.6 billion), which led to report a loss of two billion dollars (about 1.9 billion euros) instead of the 500 million dollars (about 476 million euros) profit it could have made. However, company executives have good expectations for the future, as restrictions to combat Covid-19 ease.

Across all our lines of business, we are seeing increased demand, greater utilization of our assets and improved financial health for our customers.” safeguarded CEO Aengus Kelly in statements to analysts, quoted by CNN.

Incidentally, the shares appreciated 6% in the afternoon after the announcement of the report.

Richard Aboulafia, managing director of AeroDynamic Advisory, stressed to CNN that Aercap is able to face this financial loss that appears to be definitive. Is that even if the war ended and the sanctions were lifted, planes are no longer certified in the eyes of western aviation regulatorshe explained.

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