Insurance companies are trying to delay billions of dollars of claims for hundreds of aircrafts seized in Russia, lawyers for some of world’s top aircraft leasing companies alleged at the start of a London trial.
Lessors such as AerCap Holdings NV sued insurers including units of AIG and Lloyd’s after Russia refused to return jets leased to local airlines following the invasion of Ukraine and the imposition of sanctions by Western nations. Russia transfered almost 800 foreign-owned jets to its own aircraft register after contracts were terminated.