Russian flagship carrier Aeroflot says it clinches deal with lessor

BOC Aviation

09/11/2023 20:21

Nov 9 (Reuters) - Russian flagship carrier Aeroflot
 AFLT.MM  said on Thursday it had clinched a settlement with
leasing company BOC Aviation under which nine aircraft are to be
handed over to Russian state insurance company NSK.
    A statement issued by Aeroflot said NSK would settle the
claim pursued by BOC Aviation. 
    The airline gave no further details and there was no
immediate comment from the leasing company.
    Singapore-based BOC Aviation  2588.HK  began legal action in
November 2022 in Dublin in pursuit of claims against 16 insurers
over aircraft the lessor owned that have been stuck in Russia,
an Irish High Court filing shows.
    The Aeroflot statement said BOC Aviation would abandon its
legal claims with respect to the aircraft. Eight of the aircraft
were owned by BOC and one was managed by the company.  
    The statement said Aeroflot would continue its discussions
with leasing operators to settle claims concerning
foreign-manufactured aircraft.
    Aeroflot has previously concluded a series of similar
agreements. 
    In September, AerCap  AER.N , the world's largest aircraft
lessor said it had received $645 million from NSK in full
settlement of insurance claims in relation to 17 aircraft and
five spare engines leased to Aeroflot and its subsidiary,
Rossiya.

 (Reporting by Reuters; Editing by Sandra Maler)
 ((Ronald.Popeski@thomsonreuters.com;))