Lessor DAE clinches settlement with AXA over jets 'lost' in Russia
02/10/2024 16:53
LONDON, Oct 2 (Reuters) - Aircraft lessor Dubai
Aerospace (DAE) has struck a settlement with insurer AXA
AXAF.PA over aircraft retained in Russia since the invasion of
Ukraine, the London High Court was told on Wednesday.
Alistair Schaff, a lawyer for Dubai Aerospace Enterprise,
told the first day of a High Court battle between lessors and
insurers that a confidential settlement had been secured and
DAE's remaining claim now turns on 19 missing jets.
One source familiar with negotiations said a full and final
settlement had been reached between DAE and AXA in respect of
the relevant portions of DAE's policy insured by AXA.
No further details were immediately available. AXA's
commercial insurance arm, AXA XL, declined to comment.
(Reporting by Kirstin Ridley, additional reporting by Carolyn
Cohn; Editing by Kirsten Donovan)
((kirstin.ridley@thomsonreuters.com; +44 (0) 207 513 5666;))