Aeroflot finalised a dispute with foreign lessors over seven more aircrafts

Photo by © Aviation of Russia website

Between 16 January and 15 February 2024, Aeroflot Group completed the settlement process for seven more aircraft with two groups of lessors. The agreements were initiated and concluded at the end of 2023, now the technical stages of realisation of the agreements reached have been completed. This was reported by Aeroflot’s press service.

According to the agreements, the lessors have completely ceased their claims against the Russian parties regarding the disputed seven aircraft. This applies both to insurance policies issued by domestic insurance companies and to leasing agreements with Aeroflot. Following the settlement, ownership of the aircraft was transferred to the insurance company NSC Insurance Company LLC, which paid the settlement amounts.

“To better understand the essence of this event, it is necessary to recall the previous agreements. Aeroflot Group started negotiations with lessors back in 2022. It is a long and complex process. We had to agree on many different aspects of transactions and legal relations. I would like to remind you that at the end of December last year the settlement for 28 aircraft of the group was also successfully completed,” a source close to Rossiya Airlines, a member of Aeroflot Group, commented to the Russian Aviation website.

He added that the conclusion of the agreements and the completion of technical processes to settle its obligations to lessors will allow Aeroflot Group to plan more freely the use of foreign aircraft fleets on international airlines without exposing its foreign partners to the risks of secondary sanctions.

Earlier, S7 Airlines and Ural Airlines reported on the settlement of disputes with foreign lessors.