Aeroflot has finalised the settlement of its relationship with the Irish lessor AerCap for 18 aircraft and five aircraft engines operated by Aeroflot Group companies.
In accordance with the agreement AerCap ceased its claims against the Russian parties both under insurance policies issued by Russian insurance companies and under leasing agreements with PJSC Aeroflot and JSC Rossiya Airlines. Title to the aircraft and engines was transferred to the insurance company LLC Insurance Company NSC, which paid the settlement amount. The Group continues to negotiate the settlement of existing claims with other lessors of foreign-made aircraft, Aeroflot’s press service said.
The insurance company NSC was established at the end of 2022. Its founder is the Federal State Unitary Enterprise Administration of civil airports (aerodromes). Earlier Aeroflot reported that it is negotiating with foreign lessors on the possibility of further operation of foreign-made aircraft.
The group has a fleet of 268 Airbus and Boeing foreign-built aircraft, most of which were registered in the jurisdiction of Bermuda and Ireland until 2022. After the fleet was re-registered in the Russian register, the aircraft became dual-registered. To fly abroad, carriers need to deregister them abroad, but it is impossible to do so without the consent of the aircraft owner.
By June 2023, the company managed to deregister 102 out of 268 aircraft. Thus, Aeroflot still has 166 aircraft in dual registration.
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