AerCap submitted a $3.5 billion insurance claim for more than 100 passenger aircraft grounded in Russia after Russia’s invasion of Ukraine, Reuters reports. It is said to be one of the largest single insurance claims ever made.
The aircraft including helicopters and aircraft engines have been stuck due to EU sanctions
Aercap claims to have a total of 1,740 aircraft, over 900 engines and over 300 helicopters on its books.
Aercap has just over 100 aircraft on lease to Russia, as per Reuters.
The claim by Aercap is likely to be contested by insurance companies involved, leading to lengthy litigation.
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