What does this mean for the companies who leased them to Russia. How does one seek compensation when this, as an act of war, means no insurance.
Russia officially holds “hostage” more than 470 foreign planes worth a dozen billion dollars. This is . . . after the Russian aviation authority asked its airlines to no longer fly abroad with aircraft chartered by Western companies neither for passenger connections, nor for cargo connections from Sunday 6 March. This means that it becomes impossible for leasing companies to recover jets rented to Russian companies — such as Aeroflot, S7 Airlines, Rossiya, Azur Air, Ural Airlines — which could give rise to a legal, as well as financial, headache of global dimensions.