Airplanes in Russia: Avolon is also suing insurers

Another major lessor, Avolon, has filed a lawsuit against aircraft insurers. The group is demanding compensation from Llyod's for ten machines that were not returned despite repeated requests from Russian airlines.

Earlier this week it was announced that competitor Carlyle Aviation Partners in Florida filed a lawsuit against around 30 insurance companies. It is about a total of 23 planes that were not returned by Russian carriers. According to Reuters, Avolon wrote down around $2022 million on the affected ten aircraft in the first quarter of 304.

The matter is quite piquant for the aircraft insurers, since it is estimated that there may be possible compensation of around eleven billion US dollars. Services are rejected, among other things, with reference to the war or that you know exactly where the planes are. However, the lessors do not want to accept this and are therefore suing their insurance companies for payment of the insurance benefits. It is to be expected that the process will take a long time. An expert also said that the extent of one or the other insurance company and their reinsurers could weigh heavily.