Aircraft lessor Avolon books $177 million from Russian insurance settlement

Orix

13/02/2025 08:25

DUBLIN, Feb 13 (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)
 ((conor.humphries@thomsonreuters.com; +353 1 236 1915;))