DUBLIN, (Reuters) – Avolon, a major aircraft leasing company, reported a $304 million impairment in the first quarter to reflect the financial consequences of 10 Russian jets that were stuck in Russia after European Union sanctions.

On Tuesday, the Irish company stated that it was making every effort to retrieve the aircrafts. It had repossessed four of them before the deadline. However, the carrier value for the rest of the aircraft has been reduced to zero.

Avolon lost $182 million in the quarter as a result. But, the company said they had its best quarterly underlying performance since two years ago when the COVID-19 pandemic hit.