Aircastle CEO sees contested insurance talks over Russia jets
10/05/2022 11:16
DUBLIN, May 10 (Reuters) - U.S. aircraft lessor Aircastle is
bracing for tough discussions with insurers over aircraft it
cannot recover from Russia, the chief executive of the Marubeni
Corp 8002.T and Mizuho Leasing Co Ltd 8425.T owned company
said on Tuesday.
"Mentally we're moving past it... That doesn't mean our
teams aren't still working and chasing, preparing for what we
expect to be contested discussions with our insurance carriers,"
Michael Inglese told the Airline Economics conference in Dublin.
The chief executive of Ireland's Genesis, Karl Griffin, told
the same conference that it was one of the first lessors to
renew its insurance after Western sanctions terminated all
Russian leases, and that it was "not a pretty sight."
(Reporting by Padraic Halpin, Editing by Tim Hepher)
((padraic.halpin@thomsonreuters.com; +353 1 500 1504; Reuters
Messaging: padraic.halpin.thomsonreuters.com@reuters.net))