Dubai Aerospace Enterprise (DAE) received cash proceeds in the last three months totalling approximately $201 million, from settlements related to aircraft leased to carriers in the Russian Federation, the company said on December 18, 2024.
“DAE and its relevant affiliated entities have released their claims against these insurance and reinsurance companies,” the company's statement read.
The company has now received cumulative cash proceeds of $319 million from settlements. This includes its settlement in 2023 related to seven aircraft.
The company said will continue to “actively pursue” litigation in the English courts under its own insurance policies. In addition, it will seek to mitigate losses in respect to aircraft that were previously leased to Russian airlines.