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Home > Headlines > Aircraft lessor Avolon books $177 million from Russian insurance settlement

Headlines

Aircraft lessor Avolon books $177 million from Russian insurance settlement

Published by Global Banking and Finance Review

Posted on February 13, 2025

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DUBLIN (Reuters) - Aircraft lessor Avolon has booked $177 million in proceeds from settlements of insurance claims in respect of aircraft stranded in Russia after Western sanctions in 2022 and does not expect additional recoveries.

Avolon, the world's second -largest aircraft lessor, last week said it had discontinued court proceedings in Ireland after reaching commercial resolutions with its insurers.

"We're not anticipating any material incremental recoveries from here on," Avolon CEO Andy Cronin told Reuters.

(Writing by Conor Humphries; Editing by David Goodman)

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