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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 & Finance Review®

    Posted on February 13, 2025

    1 min read

    Last updated: January 26, 2026

    This image illustrates Avolon, a major aircraft lessor, as it announces a $177 million recovery from Russian insurance settlements due to aircraft stranded in Russia post-sanctions. Relevant to finance news.
    Avolon aircraft lessor secures $177 million from Russian insurance settlement - Global Banking & Finance Review
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    Quick Summary

    Avolon, a major aircraft lessor, has secured $177 million from insurance settlements for aircraft stranded in Russia after 2022 sanctions.

    Avolon Gains $177 Million from Russian Insurance Settlement

    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)

    Key Takeaways

    • •Avolon secures $177 million from insurance claims.
    • •Aircraft stranded in Russia due to 2022 sanctions.
    • •Court proceedings in Ireland discontinued.
    • •No further recoveries expected, says Avolon CEO.
    • •Avolon is the world's second-largest aircraft lessor.

    Frequently Asked Questions about Aircraft lessor Avolon books $177 million from Russian insurance settlement

    1What is the main topic?

    The main topic is Avolon's $177 million insurance settlement for aircraft stranded in Russia due to Western sanctions.

    2Why were the aircraft stranded?

    The aircraft were stranded in Russia as a result of Western sanctions imposed in 2022.

    3What is Avolon's position in the market?

    Avolon is the world's second-largest aircraft lessor.

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