DAE secures settlement agreement over stranded aircraft in Russia as AerCap trial begins

Dubai Aerospace Enterprise (DAE) secured a settlement agreement with insurer AXA in relation to aircraft stranded in Russia following the country’s 2022 invasion of Ukraine, Reuters reported. It comes as the London ‘mega trial’ began at the London High Court on October 2, 2024. The outlet reported that DAE’s lawyer Alistair Schaff told the court in London on October 2, 2024, that a confidential settlement had been secured for a portion of its policy. Claims remain for 19 of DAE’s jets. AerCap’s lawyer Mark Howard told the court that it was unlikely that the lessor could recover the aircraft or engines stranded